American University of Paraguay Mutual Twitter said that it will accept tuition payments in bitcoin, as well as other cryptocurrencies, starting August 1, 2021.
A translated version of the tweet read: “From August 1, you will be able to pay all your tuition and fees with cryptocurrency.” “We are taking an important step towards innovation.”
The university is one of the most prestigious educational centers in Paraguay and has been in operation for more than 30 years. But it is still unclear how the university plans to accept or keep the BTC it receives as a tuition payment at a technical level, but it has not indicated any plans to liquidate the bitcoin upon receipt.
Bitcoin adoption and legalization in Paraguay
The new move, which is part of the university’s program of innovation and modernization, adds a new aspect to the legislative bitcoin bill that will be set in the state. in july.
According to Paraguay Carlos Regala, Country plans to legalize bitcoin as a medium of exchange in its commercial sector next month. men too He said Whether or not the bill he plans to introduce will seek to make bitcoin fully legal tender in the country is still uncertain and has yet to be determined.
Paraguay’s most prominent entertainment group, Grupo Cinco, also has Show interest in accepting bitcoin and other cryptocurrencies. The company will allow its 50,000 customers a month to pay in bitcoin at its 24 outlets, including restaurants, nightclubs and bars. In addition, as more companies and organizations begin to accept bitcoin, the likelihood of a bitcoin bill being passed at a state convention increases.
“We’re talking about Paraguayan entrepreneurs who have a huge impact on young people,” Regala He said. “This is very important because it will be easier for my fellow MPs to support the bill if there is social support at the local level.”
Paraguay follows suit El Salvador steps And it looks like it is on its way to officially becoming a supporter of Bitcoin in less than a month. If the proposed bill is passed, it will pave the way for Paraguay to welcome Bitcoin companies, entrepreneurs and even Miners.