TLDR
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Bitcoin Isn’t Legal Tender in Paraguay—Mining Thrives, Law Doesn’t.
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No BTC Law in Paraguay: Viral Legal Tender Claim Was a Hoax.
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Paraguay Mines Bitcoin, But Guaraní Remains King.
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Fake Bitcoin Law Exposed: Paraguay Sticks With Guaraní.
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Paraguay Bitcoin Rumor Busted—No Legal Tender, No Bill, Just Miners.
Paraguay’s government swiftly denied a viral claim that the country had adopted Bitcoin as legal tender. The clarification followed a suspicious post from President Santiago Peña’s official X account. Authorities later confirmed that the post resulted from unauthorized access to the account.
Presidential X Account Misused in Bitcoin Claim
The President’s account shared a post stating Paraguay recognized Bitcoin as legal tender. It also mentioned a $5 million Bitcoin reserve and encouraged users to send funds to a BTC wallet. The message appeared in English, unlike the usual Spanish-language posts on the account.
Officials confirmed that the account had been compromised shortly after the message gained traction online. The announcement contained inconsistent formatting and unusual investor targeting language. These factors led to quick suspicion from observers and digital security experts.
Additionally, the post claimed the launch of Bitcoin bonds and direct financial integration with the national currency, the Guaraní. However, the absence of any supporting decree or government publication cast immediate doubt. No local media outlets reported similar developments, adding to the skepticism.
Official Channels Refute Bitcoin Adoption
The official X account of the Paraguayan presidency posted a formal denial of the Bitcoin announcement. The statement clarified that the Bitcoin-related claims did not come from a government-approved source and stated that investigations into the breach were already underway.
Información falsa. Comunicado oficial de la presidencia de la República del Paraguay. pic.twitter.com/AQfpLQ3idY
— Presidencia Paraguay (@PresidenciaPy) June 9, 2025
Authorities explained that no decision had been made to adopt Bitcoin as legal tender. Paraguay has not published any legislation or policy supporting such a move, and no official notice appeared on government platforms or in the legislative registry.
The incident raised concerns about misinformation targeting the crypto community. The post had urged users to send investments to a BTC wallet, raising questions about potential fraud. The call-to-action language resembled scam formats previously seen in other account breaches.
Mining Presence Doesn’t Equal Legal Adoption
Paraguay is known for hosting several large-scale Bitcoin mining operations. Due to low energy costs, companies such as HIVE have set up operations in the country. However, the government has not introduced any formal regulatory framework for cryptocurrency use or mining activities.
Paraguay continues to rely solely on the Guaraní as its official legal tender. Unlike El Salvador, the nation has not passed any law recognizing Bitcoin for transactions, and no legislative bill is under discussion proposing that shift.
Consequently, the claim of legal tender status appears entirely fabricated. The breach emphasized the risks of misinformation in the digital currency space. Paraguayan officials are now working to secure online government accounts and prevent future incidents.
