Paraguay’s Bitcoin (BTC) friendly MP Carlitos Rejala is preparing to introduce new legislation next week that focuses on regulation.

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Drawing attention with his pro-Bitcoin tweets in recent weeks, Carlitos Rejala said that he is working with Senator Fernando Silva Facetti to introduce the legislation next week.

Rejala’s past statements have led to speculation that Paraguay will follow in El Salvador’s footsteps. However, he later clarified these words and stated that he pointed to the regulations.

“We want regulators and banks to be involved in cryptocurrencies. Thus, Paraguayans or foreigners can legally work with these assets. Because we know there are illegal transactions here and abroad… We want to be a cryptocurrency friendly country.”

Asked if there would be a similar approach to El Salvador, Rejala stated that El Salvador accepts Bitcoin as legal currency, but that this is impossible in Paraguay.