Alena Vranova, founder of SatohiLabs, the company that created the Trezor wallet, made comments on Twitter in which she compares the advantages that Paraguay offers for bitcoin users, in relation to those offered by El Salvador.
In his tweet on June 9, 2021, Vranova said: “Contact me if you are interested in Paraguay.” Next presented a table, taken from the liberation.travel website, in which he makes a comparison between what El Salvador offers and what Paraguay offers to bitcoiners and cryptocurrency users .
In his message, Vranova pointed out that Paraguay is a safe place to live, offers a high quality of life, there are no taxes on foreign income and there are no taxes for cryptocurrencies. Unlike El Salvador, in the South American nation altcoins are also tax exempt .
In this regard, it should be noted that in Paraguay there is still no legislation approved by Congress that regulates the use of cryptocurrencies .
Message from Vranova generates debate on the best countries for bitcoiners
One of the members of the bitcoiner ecosystem, Pablo Wasserman, host of the YouTube channel, RipioTV, responded to Vranova’s tweet with the following comment: «The real reason why most bitcoiners around the world should look to Paraguay is that it is one of the few countries in the world that does not comply with the Common Reporting Standard (CRS ) ».
The CRS is an international standard that requires jurisdictions to obtain information from their institutions financial institutions and automatically exchange that information with other jurisdictions on an annual basis.
Wasserman adds that, in Paraguay, permanent residence can be achieved for around USD 5,000, «deposited in a bank account in your country. local currency”. It is a figure well below that required by El Salvador of 3 bitcoins (more than USD 100,000).
Dante Galeazzi, representative of Athena Bitcoin in Argentina intervenes in the debate and asks: «Hello , I understand that banks in Paraguay are not compatible with cryptocurrencies and will not open accounts to companies related to cryptocurrencies. Is this true? Or has it changed? ».
While tweeter Nick Clemente pointed out the following: «I live in Paraguay. In terms of quality of life, etc., it is a land of contrasts: the rich live in luxury (walled mansions with private security and servants) while the poor basically live in garbage dumps. The middle class is very small. Bitcoin could fix this. ”
Clemente’s comment comes up in the framework of a debate by congressmen from Paraguay, who assured that will propose bills for bitcoin to form part of its financial and economic system , following the steps that El Salvador has taken in this regard, as reported by CriptoNoticias on June 8, 2021.
In this sense, Paraguayan deputy Carlos Rejala defended a potential adoption of bitcoin and cryptocurrencies. The legislator assured that Paraguay could benefit from the ecosystem of digital assets and its market of USD 2 trillion , which would serve to improve the sending of remittances and the arrival of new investments , for example.
Paraguay has been preparing for two years to regulate cryptocurrencies
Paraguay has been preparing since 2019 to launch a regulation for the use of cryptocurrencies in that nation, as pointed out by this media outlet . For this reason, it has been warning companies that they must adhere to a law against money laundering.
That same year, the National Electricity Administration (ANDE) offered for sale a surplus of energy hydroelectric power to several companies, which included companies interested in engaging in cryptocurrency mining in Paraguay.