After the president of El Savador wanted to make Bitcoin (BTC) a legal currency in his country, Mexico also did not lag behind when it was rumored that it would act similarly.
The matter was informed personally by senator Eduardo Murat Hinojosa through a tweet yesterday: ‘I will promote and propose a legal framework for cryptocurrency in the lower house’.
Hinojosa is confident that this idea can help in leading the country's transition to the era of crypto and fintech technology.
In fact, it is not an exaggeration to describe El Savador’s decision to recognize BTC as a legal currency will produce domino effects, similar to what MicroStrategy has done until more companies and institutions are also involved in crypto.
Last Sunday, Paraguayan congressman Carlitos Rejala made a statement on Twitter, revealing that he is working with several local crypto figures to make Paraguay a hub for crypto investors around the world.
Apparently, in contrast to the United States (US), some countries in South America and North America show high rates of interest in the crypto sector.
Like Mexico, although last year it was reported the country had a record of rising cartels, the matter was seen as not a deterrent.
