The fact that El Salvador has recently become the first country in the world to make Bitcoin legal tender seems to be having its consequences.
Paraguayan publication La Nación has reported that the country's authorities are considering the possibility of making the cryptocurrency legal tender as well.
To this end, Hagamos Party deputy Carlos Rejala has submitted a bill proposing the possibility that all transactions in the country can be carried out with the digital asset.
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As a result, Paraguayan citizens would be able to use the cryptocurrency in their day-to-day life while the country would become a Bitcoin investment and development hub.
The World Bank has recently refused to help El Salvador to implement Bitcoin as legal tender in the country, so it is most likely that Paraguay will not be able to enjoy the institution's help either if the proposed law is eventually approved.