Global Crypto Hub in Western Hemisphere?
I know what you are thinking there is no way the USA could have improved Crypto stance that quickly and you are 100% correct. The tiny country of Paraguay will present legislation on July 16th to make Paraguay the Crypto Hub of Earth. Steps are detailed out below.
I have often thought why is the freest country in the world all the way across the globe? Prior to COVID-19 Hong Kong was the freest and had the strongest economy in the world. I thought this type of thing should be the USA or some place nearby??? Perhaps I am confused, we export freedom and liberty right?
I digress, back to the matter at hand, which, is Paraguay and their global domination via Crypto. The process starts with the first step - making BTC legal tender. Yes, just as El Salvador has done. Then legalization of all Crypto assets,
Why Paraguay can get it done? They have lots of hydroelectric power at their disposal - perhaps over the past few weeks they have been solicitating some of the migrating Chinese Crypto miners? Paraguay is seeking ways to grow and you must think BIG. Paraguay has agreed to provide education and training to aid in the use of the new systems. This is BIG thinking!!!
Who is leading by example? A private University has already announced they accept BTC for payments and they are Universidad Comunera. I can envision if this University has an endowment fund or forms one an endowment fund, Crypto's will be a large percentage of the investment mandate.
Roadblocks on the road to the Global Crypto Leader? IMF loans, Paraguay took out a loan from the IMF in April '20 for $274M as an emergency loan, we know the World Bank and the IMF might help El Salvador with their transition to BTC. How receptive will the IMF be to another firm fleeing the FIAT currency system? How will the terms of their loan be impacted? Unknown at this juncture.
More background on Paraguay - for those outside the USA you can skip this section as you are probably already aware, our public education system doesn't teach real info, just mind melting fluff. Being a product of that system I have every right to point of the defects!
Paraguay is located in South America - map attached to help those who still are not sure what shape that equates to. See the area in Green below 
So its southwest of Brazil and southeast of Bolivia and north/northeast of Argentina.
The Government is a President elect with three branches of government.
Currently their Currency is the Guaraní (PYG) which would have to co-operate with BTC until the full transition takes place.
They have a population a 2021 estimate of 7,359,000 people. If you consider roughly 33% of those are children then you have roughly ~2.4M people who will be learning about and using BTC in short order. (Think they will buy any for their savings/investment?)
Crime comes in less than the good ole USA - https://www.nationmaster.com/country-info/compare/Paraguay/United-States/Crime
Currently, their GDP is roughly $44.5B (which ranks them 94th globally) They are growing at a 4% clip, do you think that will go up? Do you think becoming the global Crypto hub will have a positive impact on their GDP and standards of living?
Summary - we are still in the early stages of Global Crypto adoption. Don't get scared out of your holdings lots of positive developments taking place including Countries adopting Crypto. Will Paraguay rise to be the Crypto hub, uncertain but it will be cool to pull for the little guy.
Disclaimer - this is NOT financial advice only showing you how the Crypto realm is shifting like the sand during a windstorm. Stay Classy
