Paraguay warns against "irregular activities" after a publication suggested that BTC is legal tender
The office of Paraguayan President Santiago Peña appeared to deny a post on the social media platform X that announced the country would begin recognizing Bitcoin as legal tender.
In a post on Monday on X, the official account of the Paraguayan president's office asked followers to "discard any recently published content" without official confirmation from their office.
The post came minutes after Peña's personal account on X announced (in English) that Paraguay had made Bitcoin
legal tender, and established a reserve of $BTC worth 5 million dollars, in addition to providing a wallet address for investors to "secure their participation".
At the time of publishing this story, both posts on X remained active on the platform, but the president's office stated it was working with the social media platform to "clarify the situation" and urged the public to only consider information issued through official channels.
The post on X came as some Central American and South American countries were considering following El Salvador's example by adopting Bitcoin as a reserve asset. Driven by President Nayib Bukele, El Salvador began recognizing the cryptocurrency as legal tender in 2021, although its status is somewhat unclear following an agreement with the International Monetary Fund announced in December 2024.
