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<ul>
 <li>Paraguay mulls Bitcoin as legal tender, sparking expert insights.</li>
 <li>Lorena critiques Paraguay’s CBDC proposal, highlighting Bitcoin’s role.</li>
 <li>Education is crucial as Paraguay navigates Bitcoin’s legal status.</li>
</ul>
<p>In a recent development, Bitcoin expert Lorena sheds light on <a href="https://cryptonewsland.com/el-salvador-adds-bitcoin-as-legal-tender-paraguay-panama-to-follow/" target="_blank" rel="noopener noreferrer nofollow">Paraguay’s potential move</a> to recognize Bitcoin as legal tender. The proposal, presented in the Chamber of Deputies, has stirred discussions within the crypto community.</p>
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   <p lang="pt" dir="ltr">Tudo sobre a notícia do Paraguai em relação ao <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> como moeda legal! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447-1f3fb.png" alt="👇🏻" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Epayonpq8X" rel="noopener noreferrer nofollow">pic.twitter.com/Epayonpq8X</a></p>— Lorena | Bitcoin (@lorenaalmadag) <a href="https://twitter.com/lorenaalmadag/status/1782896926234398778?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 23, 2024</a>
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<p>Addressing fellow Bitcoin enthusiasts, Lorena highlights crucial details surrounding the proposed law. She points out discrepancies in the terminology used, noting that Bitcoin and other cryptocurrencies are erroneously referred to as companies, emphasizing the need for clarity.</p>
<p>The proposed legislation primarily focuses on the creation of a <a href="https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp" target="_blank" rel="noopener noreferrer nofollow">Central Bank Digital Currency</a> (CBDC) named the ‘digital guaraní’. This virtual currency, akin to Bitcoin in its mining-based operation, aims to modernize Paraguay’s financial landscape.</p>
<p>Lorena further explains that the law suggests adopting Bitcoin as an experimental and temporary legal tender. This entails using Bitcoin alongside the digital guaraní, with merchants and individuals mandated to accept both forms of payment, <a href="https://cryptonewsland.com/el-salvador-president-nayib-bukele-reveals-bitcoin-strategys-success/" target="_blank" rel="noopener noreferrer nofollow">mirroring El Salvador’s approach</a>.</p>
<p>However, <a href="https://twitter.com/lorenaalmadag" target="_blank" rel="noopener noreferrer nofollow">Lorena</a> critiques the proposal, highlighting the lack of understanding regarding Bitcoin and virtual currencies among policymakers. She deems the project unfeasible and emphasizes the importance of education in navigating cryptocurrency regulation.</p>
<p>Moreover, Lorena advocates for considering Bitcoin as a backing for CBDC issuance to mitigate inflationary risks. Despite the challenges posed by ignorance, she remains committed to promoting awareness and fostering informed discussions within the crypto sphere.</p>
<p>As Paraguay deliberates on its stance towards Bitcoin and digital currencies, insights from experts like Lorena play a vital role in shaping informed decisions and navigating the complexities of cryptocurrency adoption and regulation.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/el-salvador-adds-bitcoin-as-legal-tender-paraguay-panama-to-follow/" rel="noopener noreferrer nofollow">El Salvador Adds Bitcoin as Legal Tender, Paraguay, Panama to Follow</a></li>
 <li><a href="https://cryptonewsland.com/el-salvador-btc-legal-tender-is-optional-locals-get-30-btc/" rel="noopener noreferrer nofollow">El Salvador BTC legal tender is optional, locals get $30 BTC</a></li>
 <li><a href="https://cryptonewsland.com/justin-sun-wants-5-countries-to-adopt-trx-as-legal-tender/" rel="noopener noreferrer nofollow">Justin Sun Wants 5 Countries to Adopt TRX as Legal Tender</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-lightning-network-surges-thanks-to-el-salvador/" rel="noopener noreferrer nofollow">Bitcoin Lightning Network Surges, Thanks to El Salvador</a></li>
 <li><a href="https://cryptonewsland.com/bon-accepts-bitcoin-for-payments-namibia/" rel="noopener noreferrer nofollow">BON Accepts Bitcoin For Payments: Namibia</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/paraguay-considers-bitcoin-as-legal-tender-bitcoin-experts-critiques-move/" rel="noopener noreferrer nofollow">Paraguay Considers Bitcoin as Legal Tender, Bitcoin Experts Critiques Move</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Paraguay Considers Bitcoin as Legal Tender, Bitcoin Experts Critiques Move

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