Lawmakers from several other Latin American countries have been following El Salvador’s lead in boosting Bitcoin, even as questions swirl over just what El Salvador’s adoption would mean.
Panamanian congressman Gabriel Silva posted on Twitter that he was preparing a proposal to present at the national assembly.
“This is important, and Panama cannot be left behind,” he wrote. “If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies.”
Paraguay congressman Carlitos Rejala posted a photo of himself with the Bitcoin “laser eyes for US$100k” meme and promised he’d this week he’d introduce an “important project to innovative Paraguay in front of the world!”
As I was saying a long time ago, our country needs to advance hand in hand with the new generation. The moment has come, our moment. This week we start with an important project to innovate Paraguay in front of the world! The real one to the moon #btc & #paypal https://t.co/bQll07NnET
— Carlitos Rejala (@carlitosrejala) June 7, 2021
— Gilson Marques (@gilson__marques) June 7, 2021
Questions over El Salvador adoption
Meanwhile, El Salvador’s secretary of commerce and investment, Miguel Kattan, said during a meeting of the country’s central bank that despite El Salvador adopting Bitcoin, there wouldn’t be a “de-dollarization” of the economy.
A tomato that costs 20c, for example, would still cost 20c if a seller accepts Bitcoin.
“If the one who is charging accepts the Bitcoin and the one who is paying it wants to do it with Bitcoin, there is no difference from what we have today,” he said.
But of course, sellers are already free to accept Bitcoin. One surfing village in El Salvador reportedly uses it extensively. So it’s not clear what the bill would change, other than increasing awareness.
The post Politicians in Panama, Brazil, Argentina and Paraguay look to follow El Salvador on Bitcoin adoption appeared first on Stockhead.
Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.