El Salvador President Nayib Bukele announced during the Miami Bitcoin conference that he would submit a bill for Bitcoin to be made legal tender.
Panamanian congressman Gabriel Silva tweeted on June 8 that Panama should catch up to Bukele’s progressive crypto plans, stressing the importance of not being left behind.
This is important. And Panama cannot be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies.
Silva added that they “will be preparing a proposal to present at the Assembly.”
Bukele’s announcement has encouraged other politicians across Latin America to show their support for Bitcoin. Paraguayan congressman Carlitos Rejala uploaded a picture of himself with laser eyes — a popular meme within the crypto community used to convey strong support for Bitcoin. Brazilian politician Fábio Ostermann did the same, posting a picture of himself with laser eyes.
However, despite the enthusiastic support of Bitcoin by the Latin American lawmakers, the price of Bitcoin continued to drop from $36,000 on June 6 to roughly $31,000 at time of writing.