It is believed that at least two other countries are actually preparing to introduce legislation to make Bitcoin legal tender.
El Salvador last week brought Bitcoin (quotation live) in its traditional financial system making history, now, this could give other nations the confidence to adopt Bitcoin as legal tender as well.
It is understood that at least two other countries are preparing the paperwork that will set the wheels in motion to deliver the vote to their respective parliaments. And, according to global financial expert Paul Murillo, one of them may be able to make the move in the coming months.
"Many countries have been making noise about making Bitcoin mainstream within their financial systems, but the government of El Salvador has been the only one to simply go along with it - until now," he said.
“What we see now is a series of finance ministers from different countries watching and waiting a bit to see what mistakes El Salvador makes and what they can learn - these are some of the biggest countries we might not see taking this step for. many years.
"The ones to watch now are those countries that have already done their homework on Bitcoin and are ready to take the step within the next 12 months."
Mr. Murillo believes he has already identified likely candidates who are already preparing to enter the Bitcoin arena.
“Some of them are neighbors of El Salvador and some are not, but they all face the same financial situation and see Bitcoin as the future of finance and a provider of great freedom,” he said. So which country could be next, and why?
This landlocked nation, often in the shadow of its wealthier neighbors, has already declared its intention to form a financial inclusion alliance with other South American countries, and Bitcoin appears to be at the top of the government's agenda.
Congressman Carlos Rejala is expected to pass a bill in July through Asuncion with the aim of luring cryptocurrency companies to Paraguay. If approved, it would only take a second law in October to officially recognize Bitcoin.
"As I was saying a long time ago, our country needs to move forward with the new generation," MP Rejala said last week in response to El Salvador's move.
“The time has come, our time. This week we start with an important project to innovate Paraguay in front of the world ”.
Mexican politicians are eager to advance the country and its economy as much as possible. Cannabis legalization legislation over the past couple of years has paved the way for a broader discourse on Bitcoin.
Earlier last year, there had been a discussion over proposals for a national cryptocurrency for Mexico, but the balance of thinking has now shifted towards Bitcoin, particularly after El Salvador politicians started the adoption process in early 2021.
Talks are underway and it should only be a matter of time before an agreement is reached to bring a motion for discussion to the Mexican parliament.