Paraguayan MP announced Carlitos Regala Carlitos Rejala In his statements on Twitter, his intention to run for the country's presidential elections in 2023, while vowing, if elected, to make Bitcoin Bitcoin Legal currency in the country:
“If we get to the presidency in a year 2023, it will be Bitcoin Official currency!
Carlitos Regala Carlitos Rejala One of the biggest supporters for bitcoin and the use of cryptocurrencies, and has previously proposed a bill to legalize and regulate the use of Bitcoin and other digital currencies in Paraguay.
He had co-authored the bill, with another member of Parliament, Silva Facchetti Silva FacettiThe bill then proposed legalizing cryptocurrencies in Paraguayand building a trading ecosystem around it.
He also suggested creating entities that would control the public offering of digital assets and create a viable crypto-mining industry in the country.
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Mining using renewable energy
all Paraguay Almost all of it is powered by renewable energy 100%, thanks to the presence of hydroelectric power.
Prepare Paraguay Itaipu Dam home ItaipuIt is the second largest hydroelectric dam in the world, with a production capacity of 14 gigawatts.
Read also: El Salvador investigates government purchases of Bitcoin and ATMs
Rigala Adoption of Bitcoin as Legal Currency
Many companies are awaiting adoption Bitcoin As legal tender, as comes the announcement Regala After the news coming from Ukraine, which has legalized the status of cryptocurrencies such as Bitcoin.
The Ukrainian move is in line with the state's plan to create a two-currency system of hryvnia Hryvnia by year 2023, as followed by the declaration of Ukraine, granting a state government Laos Laos Located in Southeast Asia, the green light for companies for trading and mining Bitcoin.
Also Read: Is Solar Energy Suitable for Bitcoin Mining?
domino effect
It seems that the decision taken by the President of El Salvador Najib Boukeli adopt Bitcoin As legal tender, it has created a domino effect, with many other countries now looking at ways to adopt the currency.
Paraguay Following the example of El Salvador, with the recent statements of a congressman and potential presidential candidate Regala.
Many South American countries are also considering their adoption as a currency capable of fueling their GDP growth.
Another reason these countries are looking to explore cryptocurrency is that the majority of the population in these countries does not have access to a bank account.
A digital currency that can be accessed through their phones, could be more relevant to the needs of citizens .
Read also: The total value of the mining market in Vietnam rises with the rise of Bitcoin
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