Gabriel Silva, a Panamanian congressman, moving to follow in El Salvador’s footsteps by proposing legislation to adopt Bitcoin on a national scale
El Salvador President Nayib Bukele announced during the Bitcoin conference in Miami on June 6, that he will be submitting a bill to lawmakers requiring Bitcoin to be legal tender. And following in the footsteps of El Salvador, Gabriel Silva, a Panamanian congressman, proposed legislation that would apply Bitcoin and other cryptocurrencies on a national scale.
Gabriel Silva is following in El Salvador’s steps to moving legislation to adopt Bitcoin on a national scale
In a June 8 tweet, Silva emphasized the importance of Panama not being left behind by Bukele’s progressive crypto plans, including the removal of capital gains tax on Bitcoin in El Salvador.
According to a rough translation, Silva asserted:
Esto es importante. Y Panamá no se puede quedar atrás. Si queremos ser un verdadero hub de tecnología y emprendimiento tenemos que apoyar las criptomonedas
Estaremos preparando una propuesta para presentar en la Asamblea. Si están interesados en construirla me pueden contactarte https://t.co/yiAzPpD9nj
— Gabriel Silva (@gabrielsilva8_7) June 7, 2021
“This is important. And Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies. We will be preparing a proposal to present at the Assembly. If you are interested in building it, you can contact me.”
Bukele’s announcement prompted similar moves from other politicians across Latin America. However, some specific policy proposals have been published.
On June 7, Paraguayan congressman, Carlitos Rejala, tweeted “El Salvador to the Moon” and uploaded a picture of himself with laser eyes — a popular crypto meme used to express Bitcoin maximalism on crypto Twitter.
Como ya lo decía hace un buen tiempo, nuestro país necesita avanzar de la mano de la nueva generación.
Llegó el momento, nuestro momento.
Esta semana empezamos con un proyecto importante para innovar a Paraguay frente al mundo!
— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) June 7, 2021
Earlier today, the crypto community turned their attention to Brazilian politician, Fábio Ostermann, who similarly posted a photo of himself with laser eyes along with the hashtag #lasereyestill100k.
— Fábio Ostermann (@FabioOstermann) June 7, 2021
Despite the positive sentiment on social media regarding the apparent bullishness of Latin American legislators, Bitcoin price continues to decline. Bitcoin price has dropped about 10% since Bukele’s June 6 announcement from $36,000 to around $32,500 at press time.
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