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Panama Follows El Salvador’s Lead, Next Crypto Nation

Panama Follows El Salvador’s Lead, Next Crypto Nation
  • Panama is working on a proposal to embrace Bitcoin and other cryptos in the country.
  • The announcement came after El Salvador’s move to make Bitcoin a legal tender.
  • Paraguay too is following El Salvador’s lead.

Congressman Gabriel Silva of Panama tweets about bringing Bitcoin and other cryptos to the country. In particular, he highlights the importance of embracing “true technology” for the nation to become an “entrepreneurship hub”.

Panama’s decision came soon after El Salvador’s recent announcement about making Bitcoin a legal tender. The announcement came a few days ago by El Salvador’s President, Nayib Bukele, at the Bitcoin 2021 Conference in Miami.

In his tweet, Silva mentions that Panama has no intention of being left behind. Therefore, to get started on Panama’s crypto journey, he says he has begun to prepare a proposal to present to the Assembly.

Furthermore, as he is eager to support cryptocurrencies in the nation, he is urging fellow believers to collaborate with him. The tweet ends with a call to action from anyone else with the interest to help build the proposal. Interested parties can contact Congressman Silva to contribute to the promising venture.

Besides El Salvador and Panama, other Latin countries have also taken the crypto leap. In particular, following El Salvador’s first announcement, Paraguay too said it would consider making Bitcoin a legal tender in its nation.

Above all, it seems that El Salvador has begun to blaze the crypto trail for Central and South American countries. TRON CEO, Justin Sun, was also ecstatic to announce that TRON would become the first crypto organization to establish an office in El Salvador.    

However, despite all this rising buzz about Bitcoin adoption in multiple nations, the BTC price is still low. According to CoinGecko, the price of Bitcoin is presently at $33,816.14. It seems that perhaps with the astonishing announcements, the crypto and Bitcoin community is a little lost on what could happen next. All in all, countries looking to make Bitcoin a legal tender is positive news, as it shows that more parts of the world are embracing crypto and its possibilities.

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