Paraguay Announces Bill to Legalize Bitcoin
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Paraguay could become the second country after El Salvador to legalize Bitcoin as legal tender. The bill will be introduced in the country's parliament on July 14, Congressman Carlos Rejala said in a conversation with Cointelegraph.

He said the initiative has received the support of "a number of very important companies in Paraguay." Rejala added:

"There will be several surprises in this bill. I think it will be extremely significant and important for the crypto world."

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Rejala has previously attracted the attention of potential investors with the country's low taxes, young labor market and access to renewable energy sources. The Paraguay-Brazil border is home to Itaipu, one of the world's largest hydroelectric power plants.

The American University of Paraguay has previously announced it would start accepting cryptos as a means of payment. Starting in August, the university could add support for Bitcoin, Ether and XRP. The organization's director, Camilo Jimenez Aguero, said:

"The challenge is to expand the adoption of cryptocurrencies and move to more efficient payment channels."

The authorities of El Salvador passed earlier this month a bill recognizing Bitcoin as legal tender. The opposition called the legalization of the crypto unconstitutional.

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