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El Salvador fascinates world with Bitcoin move, but cryptocurrency s volatility risk udercuts charm

Paraguay and Mexico May Follow El Salvador and Adopt Crypto

Bitcoin: Which countries could follow El Salvador by making it legal tender?

Bitcoin: Which countries could follow El Salvador by making it legal tender? Anthony Cuthbertson © Reuters Bitcoin banners are seen outside of a small restaurant at El Zonte Beach in Chiltiupan, El Salvador 8 June, 2021 - Reuters El Salvador may be the first country to adopt bitcoin as legal tender, but recent developments suggest that it might not be the last. Politicians in several other countries in Latin America have already expressed an interest, with some even adding bitcoin laser eyes to their Twitter profiles as a symbol of support for the cryptocurrency. One such lawmaker is Paraguay Congressman Carlos Rejala, who hopes to pass a bill next month aimed at attracting crypto businesses. If it passes, the next step would be to present a second bill that would officially recognise bitcoin as legal tender.

After El Salvador, Paraguay considers Bitcoin adoption

The announcement from Paraguay comes days after El Salvador announced plans to accept Bitcoin as legal tender. Large mining farms in China have been forced to consider alternatives after the country’s recent crackdowns. Cooler countries will be preferred for crypto mining. South American country Paraguay has become the second country to consider regulations that will be favourable towards the .

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