On June 9, El Salvador made history by approving Bitcoin as legal tender, becoming the first sovereign nation to adopt the cryptocurrency as official currency. This landmark event was listed by Agence France-Presse as the 14th major milestone in monetary history.
Just a week later on June 16, Tunisia’s Finance Minister Ali Kooli announced plans to legalize Bitcoin, declaring on national television:
"I will amend the law. We cannot imprison Tunisian youth simply for buying Bitcoin."
Why Tunisia’s Sudden Shift?
The announcement followed a controversial arrest in April, where Tunisian police detained a 17-year-old gamer for merely conducting Bitcoin transactions—mistakenly linking it to money laundering. Critics argued:
"This arrest wasn’t about crime, but Tunisia’s lack of clear cryptocurrency regulations... The teen was charged because authorities couldn’t trace the funds’ origin."
By May, Tunisia’s crypto community rallied in protest.
Central Bank Governor Marouane El Abassi had earlier acknowledged that outright bans on technology are misguided. Tunisia, with a GDP under $38 billion, is witnessing record-breaking local crypto adoption. Carthage Magazine reported an 11% surge in crypto exchange registrations in Q1 2021 compared to 2020.
Latin America’s Crypto Momentum
🌎 Panama
Following El Salvador’s move, Panamanian Congressman Gabriel Silva urged lawmakers to support cryptocurrencies, tweeting:
"Panama must not fall behind. To become a tech hub, we need crypto frameworks."
Vice President Rolando Rodríguez had earlier proposed a bill to regulate cryptocurrencies, aiming to integrate them into social security funds—granting financial access to unbanked citizens.
🇧🇷 Brazil
As South America’s largest economy, Brazil approved QR Capital’s Bitcoin ETF in March (trading as QBTC11 on B3 Exchange), becoming the second country globally to greenlight such a fund.
Globo Media revealed Bitcoin investors now outnumber registered traders on São Paulo’s stock exchange by over 2:1, fueled by 8.06% inflation—a 5-year high.
🇵🇾 Paraguay
On June 7, Congressman Carlitos Rejala tweeted a laser-eyed photo with the caption:
"Our time has come. Paraguay will soar in the innovative new world."
FAQs
❓ Why is Bitcoin gaining traction in Latin America?
High inflation destabilizes local currencies, while Bitcoin offers a decentralized alternative with lower barriers than traditional assets like gold.
❓ Which countries might adopt Bitcoin next?
Panama, Brazil, and Paraguay show strong legislative momentum, with Mexico also exploring crypto frameworks.
❓ How does Tunisia’s GDP affect crypto adoption?
With limited economic power, cryptocurrencies provide financial inclusion and hedge against currency devaluation.
👉 Explore how Bitcoin is reshaping global finance
Bitcoin’s expansion hints at a seismic shift in global finance—one small crack at a time.
Original source: PANews | Compiled by Block热度
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