Paraguay might be the first country after El Salvador to make bitcoin a legal tender, per a Thursday (Dec. 9) report from The Cryptonomist.
The proposed bill will reportedly delve into the possibility of bitcoin becoming an official currency in the country.
“The purpose of this draft law is to establish legal certainty, financial and fiscal in the businesses derived from the production and commercialization of virtual assets,” the bill says.
The bill is under discussion in the Senate and could cover both the taxing and regulation of cryptocurrency.
Additionally, it could also go into regulating crypto mining and trading on peer-to-peer exchanges and markets where participants would have to register as “obligated entities.”
The news in Paraguay comes after the country’s largest entertainment holding company, Grupo Cinco, announced that it would begin accepting cryptocurrencies like bitcoin and ether as payment.
Meanwhile, Goldman Sachs CEO David Solomon doesn’t seem like he’s interested in cryptocurrency, a report from NewsBTC said Thursday (Dec. 9).
In an interview…
