Paraguay Considers Adopting Bitcoin as Tender

Paraguay might be the first country after El Salvador to make bitcoin a legal tender, per a Thursday (Dec. 9) report from The Cryptonomist.

The proposed bill will reportedly delve into the possibility of bitcoin becoming an official currency in the country.

“The purpose of this draft law is to establish legal certainty, financial and fiscal in the businesses derived from the production and commercialization of virtual assets,” the bill says.

The bill is under discussion in the Senate and could cover both the taxing and regulation of cryptocurrency.

Additionally, it could also go into regulating crypto mining and trading on peer-to-peer exchanges and markets where participants would have to register as “obligated entities.”

The news in Paraguay comes after the country’s largest entertainment holding company, Grupo Cinco, announced that it would begin accepting cryptocurrencies like bitcoin and ether as payment.

Meanwhile, Goldman Sachs CEO David Solomon doesn’t seem like he’s interested in cryptocurrency, a report from NewsBTC said Thursday (Dec. 9).

In an interview with CNBC’s Squawkbox earlier this week, Solomon said it wasn’t really “on his radar” and that he didn’t know much about it.

Instead, he says blockchain is more important, especially for the way it could help digital payments.

“I’m a big believer in the digitalization that is occurring, the disruption that is occurring, in the way financial services are delivered both for individuals and for institutions,” Solomon said, according to the report.

Solomon also said it was important for the company to work with blockchain in terms of digitizing companies in finance, as has been happening with many companies as of late.

This comes in spite of Goldman Sachs’ numerous stances in the past offering clients exposure to crypto.

“My view on bitcoin, for example, is that I really don’t know, but it’s really now something individually that’s important to me,” Solomon said, per the report.

Solomon evaded a question on whether he wanted the bank’s clients to go into crypto, saying that he “wants the clients to do what they want.”