Countries Part of Latin America Want to Adopt El Salvador’s Bitcoin Initiative

El Salvador has been taken as a role model by countries that are part of the Latin American region. Countries there are not only appreciating El Salvador’s President for allowing a legal tender to Bitcoin but they too are also desirous of adopting Bitcoin. These countries include countries like Brazil, Paraguay, Tanzania, Mexico, Panama, Argentina, and Tonga.

The lawmakers of the countries part of the Latin American region are eyeing to adopt Bitcoin. They are convinced that the future of their respective countries’ economies rests in the legalization of crypto. The inspiration has certainly come to them from El Salvador which has recently given the legal tender to Bitcoin. The lawmakers are convinced that somewhat similar actions be taken by their respective governments as well. For instance, countries such as Brazil, Paraguay, Tanzania, Mexico, Panama, Argentina, and Tonga have shown a great desire for Bitcoin’s adoption and legalization.

Most recently a tweet post was seen from a Senator in Panama namely Gabriel Silva. In this tweet post, Silva congratulated the President of El Salvador regarding his initiative of Bitcoin. He stated further that indeed El Salvador has taught a lesson to the neighboring country (Panama). Silva suggested that Panama has to break the shackles of the past and embrace innovation and knowledge. There is a dire need to providing quality innovative education for the purposes of creating an environment of better business.

Silva was of the view that the implementation of quality innovation education will ensure that Panama is not left behind. If Panama wants to make its mark in the field of entrepreneurship and technology, then adopting crypto is the need of the hour. In the end, he suggested that the Parliament will immediately work on the preparation of the proposal required for crypto adoption.

Paraguay’s Carlitos Rejala has urged the Government of Paraguay to replicate the initiative taken by El Salvador. Rajala tweeted that for a long time he has been advocating that the Government would need to rely on and cooperate with the youth. He said that after the adoption of crypto in El Salvador, the time has come for Paraguay as well. He advised that economic stability will come when youth is taken into confidence who are ambitious and are acquainted with the technology.

Brazil’s Member of Legislative Assembly, Fabio Ostermann, has also advocated in favor of El Salvador’s initiative. Similar were the views of Francisco Sanches, Deputy of Argentina who tweeted that it was difficult to believe Bitcoin’s legalization in El Salvador. However, he commented that this is how it should be done in the first place.

Meanwhile, Gemini’s Tyler Winklevoss, emphasized that all that was required of El Salvador to come into the picture was Bitcoin adoption. Otherwise, the country was being ignored, even by its neighbors, but thanks to the head of the state of El Salvador, said Winklevoss.