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El Salvador became the first country to adopt Bitcoin as a currency thanks to the proposal sent to the country's Congress by its current president, Nayib Bukele. This Bitcoin legislation has been pleasant news for fans of this cryptocurrency and has made other governments think about whether or not to legalize BTC in their respective countries. In this article, we will teach you about the different countries that could adopt bitcoin as a currency after El Salvador.
After the approval of Bitcoin as a currency in El Salvador, several authorities in the countries of the world have announced to follow in the footsteps of the Central American country. Are you interested in knowing which ones? Read carefully.
Panama, close to El Salvador, has been very aware from the beginning of the decision of the country governed by Nayud Bukele on Bitcoin as a currency to transact. After the approval of the project, several Panamanian authorities have come out to talk about the possibility of adopting Bitcoin in the country as has been done by deputy Gabriel Silva on Twitter. In his account, Silva states that Panama must follow in the footsteps of its neighboring country to turn the country into a giant center of innovation and digital technology. He comments that it is the opportunity to turn low-income or small countries into giants, as Singapore has done after seeing the birth of Bybit, a well-known exchange in the crypto world.
On the other hand, in Paraguay, through Deputy Rejala he has proposed to legalize Bitcoin and other known cryptocurrencies. Carlos Rejala affirms within the Congress complex to his colleagues that this law, if it goes well, will increase Paraguay's GDP considerably since the cryptographic world moves billions of dollars frequently.
The Deputy for the Province of Mendoza, José Luis Ramon, has sent a law to the Argentine Congress that would allow Bitcoin to be legalized as a means of payment to collect the monthly salary, giving companies alternatives.
In itself, the law sent by Jose Luis Ramon consists of allowing formal workers (within the retirement contribution system) to choose whether to collect all or part of their salary in cryptocurrencies, preferably BTC (Bitcoin). Although the project has not yet been debated, it is believed that by August / September the project can be debated and approved, which would benefit many people. It should be noted that Argentina is the second country, behind Venezuela, in the use of cryptocurrencies due to its high inflation every year and economic crisis every so often.
Like, Argentina, Colombia seeks to legalize Bitcoin for formal employees and allow them to collect their salary in cryptocurrencies. Although, in this case, a bill has not yet been sent to the Chamber of Deputies, it is believed that it will be sent shortly.
In recent days, both China and Indica have banned Bitcoin to incentivize their virtual local currency. This news has not gone down well in China as more than half of the BTC miners were located in that country.
This measure has made the miners have to emigrate to other countries where they are accepted and start over. In fact, videos of people throwing graphics cards in China have been made viral via social media.
Going to the point, this decision of both countries does not affect the position of BTC in the long term since these governments are not democratic and are above the population every day imposing their things on them.
BTC, in recent years, has achieved an unexpected development, adoption and increase in the world population and this move will continue for many more years.
It won't be impressive when big tech like Facebook, Microsoft or Apple also join BTC and accept cryptocurrencies as a means of payment like Tesla has done, thanks to Elon Musk. In conclusion, the crypto world is just beginning and there are many years left for more than half of the population to join it.
