Carlitos Rejala, a member of Paraguay's Chamber of Deputies, has announced that he may run for President in 2023 and that he would make Bitcoin the countries official currency.
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Rejala is the same politician from Paraguay that proposed a bill in the country to legalize and regulate the use of Bitcoin and cryptocurrencies in the country. Rejala co-wrote the bill with another member of the Chamber of Deputies, Silva Facetti.
The bill calls for the regulation of cryptocurrencies and commercialization around them. It also seeks to establish entities to control the public offering of digital assets as well as a mining industry in the country.
Paraguay is run off nearly 100% renewable energy using hydroelectric dams like the Itaipu dam, which is the second-largest hydroelectric dam in the world producing 14GWs of power.
Rejala's announcement comes shortly after Ukraine announced that it has legalized Bitcoin and other cryptocurrencies and that it plans to create a dual currency of Bitcoin and the hryvnia by 2023. This system would be similar to El Salvador's setup where the dollar and Bitcoin are both considered legal tender.
Ukraine's announcement was followed by the Laos government's authorization for companies to begin trading and mining Bitcoin. El Salvador seems to have started a trend of Bitcoin acceptance and adoption among countries with high amounts of remittance payments and excess power to use for mining.
Rejala has been contacted for more details but it is still unclear if he has officially announced a run for the presidency in the country and if it is certain that he would aim to make Bitcoin the country's official currency.
This story is developing.