Almost immediately after El Salvador legalised Bitcoin, Carlitos Antonio Rejala Helman — a Deputy of the Nation and Member of Congress in Paraguay — announced his plans to present a Bitcoin bill next month. The country may also initiate a project that will include Bitcoin alongside PayPal.
Rejala called on the nation to advance with the new generation in a tweet. According to him, the country offers no restrictions on foreign capital flows and the payment of dividends abroad. Paraguay also has one of the lowest costs of electricity in the region, which “makes it an attractive country to crypto investors."
Panama has its own plans to jump aboard the bandwagon as well. Even though the new alternative is yet to be tested in real life, smaller countries are keen on joining the trend as fiat currencies, like the US dollar, have bogged them down.