After El Salvador passed a Bitcoin law, several Latin American countries are considering adopting the cryptocurrency.
After El Salvador approved a law making cryptocurrencies legal tender, a number of legislators in Latin American countries have indicated interest in Bitcoin. Paraguay, Argentina, Panama, Brazil, and Mexico are among the countries that make up the region. Bitcoin has also piqued the interest of Tonga and Tanzania, according to reports.
MORE COUNTRIES ARE LOOKING AT BITCOIN INTRODUCTION
Following the passage of legislation in El Salvador making Bitcoin legal cash alongside the US dollar, an increasing number of legislators in neighbouring nations have either expressed interest in doing the same or have had their Twitter profile images scrutinised.
Since February, the laser eye meme has swept the Bitcoin community, with the underlying notion that anyone who focuses their eyes on the price of Bitcoin at $100,000 is laser focused. Politicians, celebrities, and investors all took part in the project and contributed laser-eyed profile images.
On Twitter, Gabriel Silva, a Panamanian member of parliament, congratulated El Salvador on approving the Bitcoin legislation. “El Salvador is teaching the Panamanian government about entrepreneurship and technology, which is fantastic news. Beyond the canal and free zones, we must rely on the information economy, universal high-quality education, and the promotion of new firms. He was emphatic:
This is critical, and Panama must not be overlooked. We must support cryptocurrencies if we want to be a true technology and business hub. We'll put up a proposal to present during the meeting.
Carlitos Rejala, a Congressman and National MP for Paraguay, has asked his government to follow El Salvador's lead and implement similar policies. “As I said a long time ago, our country must move forward hand in hand with the new generation,” he tweeted, his profile photo adorned with laser eyes. The time has come, our time has come.
Fábio Ostermann, a member of the Rio Grande do Sul legislative assembly, has lasered his profile photo. “I can't believe it, but that's how it is,” Argentina's MP Francisco Sánchez tweeted, temporarily turning laser eyes on his profile image.
Following the approval of El Salvador's bitcoin law, Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, stated last week on the expanding list of countries interested in bitcoin:
They reject you at first, then welcome Bitcoin in Paraguay, Argentina, Panama, Brazil, El Salvador, and Nicaragua.
Senator Indira Kempis, who responded to Tyler Winklevoss' tweet with a Mexican flag emoji, is one of several Mexican senators who have lasered their profile images. Senator Eduardo Murat Hinojosa has also announced that he will present a cryptocurrency regulation proposal to the national congress. Last week, he tweeted:
In the Mexican House of Commons, I will advocate for and propose a legislative framework for cryptocurrencies.
Tonga, a Polynesian country, and Tanzania, an East African country, are two more countries that have expressed interest. President Samia Suluhu Hassan has encouraged the Tanzanian Central Bank to begin working on making cryptocurrencies more widely used in the country. Lord Fusitu'a, a Member of Parliament in the Kingdom of Tonga, is a Bitcoin supporter. On his Twitter profile image, he has laser eyes, and he recently attended a Twitter space meeting with bitcoiners to explore how his country may benefit from Bitcoin.
El Salvador has the potential to create a precedent for Bitcoin adoption. JPMorgan has stated that other governments might “similarly” follow El Salvador's lead in making Bitcoin legal tender. Meanwhile, the International Monetary Fund (IMF) finds legal and economic issues with El Salvador's decision.
Do you think more countries, like El Salvador, will make Bitcoin legal tender? Please share your thoughts in the comments box below.