South America Embraces Bitcoin: Brazil, Argentina, Mexico and Panama El Salvador and Paraguay - PTC Live

South America Embraces Bitcoin: Brazil, Argentina, Mexico and Panama El Salvador and Paraguay – PTC Live

Prices may fall, but bitcoin continues to do well. The adoption of Bitcoin continues unabated. We wrote yesterday that the President of El Salvador wants to make a legal tender for Bitcoin. It was soon announced that there were plans in Paraguay as well. Politicians in Brazil and Panama seem to want to follow their continental counterparts.

Buckeye is the leader of the New World

Gabriel Silva, a Panamanian Congressman, wants to follow in the footsteps of El Salvador, proposing legislation to legalize bitcoin and other cryptocurrencies as a means of national payment. El Salvador’s President Naib Buchale announced at the June 6 Miami Bitcoin Conference that he would submit a bill to lawmakers demanding that Bitcoin become a legal tender.

Panama wants to follow a progressive policy

In a tweet today, Silva stressed the importance of Panama not being sidelined by Buckle’s progressive crypto projects. This means the abolition of capital gains tax on bitcoin in El Salvador. The policy for profits from crypto varies from country to country, for example in the United States you have to pay tax on every profitable transaction. In the Netherlands, your crypto assets belong to your total assets, for which you have to pay wealth tax.

An approximate translation tells us this: ‘This is important. And Panama can’t be left out. If we want to be a true hub for technology and entrepreneurship, we must support cryptocurrencies. Silva added: “We will prepare a plan to present to the meeting. If you are interested in developing it, you can contact me.”

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With laser eyes to the moon

Buckle’s announcement has prompted similar actions by other Latin American politicians, but some more concrete policy plans have been announced. On June 7, Paraguayan Congressman Carlitos Regla tweeted that he was “real to the moon” and uploaded a photo of himself with laser eyes, a popular crypto memo used on Twitter to reveal the maximum of bitcoin.

Brazil oscillates

Earlier today, the crypto community turned its attention to Brazilian politician Fabio Osterman. He also posted a photo of himself with laser eyes with the hashtag “# lasereyestill100k”. What does all this mean? Only one clich can answer it: time will tell.

Argentina and Mexico also participate

Mexican politician Indira Kembis de I also added laser eyes. He is the Republican senator for Nuevo Lyon.

The latest to join is Argentina Francisco Sanchez, a member of the Argentine Chamber of Deputies since 2019.

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