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Paraguay announces that Bitcoin will be designated as legal tender.
On June 10, according to Bloomberg, the President of Paraguay stated that the country has designated Bitcoin as legal tender. The Republic of Paraguay, commonly known as Paraguay, is a sovereign country located in South America and is also a landlocked country situated on both sides of the Paraguay River. Its southern border is completely adjacent to Argentina, while the northeast and northwest corners are bordered by Brazil and Bolivia, making it a member of the Southern Common Market and the Union of South American Nations.