Paraguay paves the way for crypto regulation despite internal opposition
A new bill for crypto regulation has been approved by Paraguayan Congress despite the central bank and budget commission’s rejection of the project. Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets. On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress in a vote of 40 to 12. The bill must now be ratified by the Senate to finally reach....
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Bitcoin trading and mining will now be under the crosshair of the Paraguay government. Last month, the Chamber of Deputies of Paraguay endorsed a measure to regulate cryptocurrencies over opposition from the country’s central bank. Bitcoinist reported that during a special session in May, deputies approved the modified crypto law draft by a vote of […]
Cryptocurrency regulation in Paraguay is progressing steadily, as a crypto bill introduced in December has been approved by the Chamber of Representatives in the country. The bill, which contains definitions and rules for cryptocurrency mining, one of the hot topics in Paraguay due to the cheap electricity costs, will be passed to the Senate to be discussed.
Paraguay Advances Crypto Bill
Latam countries are taking cryptocurrencies in a more serious light, and are now working to approve cryptocurrency legal frameworks. This is the case of Paraguay, a country that has been....
After El Salvador and the Central African Republic approved Bitcoin as legal tender, other nations, like Paraguay, are hurrying to catch up and implement regulations for this unique asset class. Countries in Latin America are taking cryptocurrencies more seriously and are currently striving to ratify legal and other relevant frameworks. Due to its inexpensive electricity […]
A cryptocurrency bill introduced in July to the Senate of Paraguay has been approved. The text, which defines several important concepts including virtual assets, and establishes the need for licenses to mine cryptocurrencies, will now advance to the Deputy Chamber to be discussed.
Paraguay Could Approve Crypto Law by Next Year
A new cryptocurrency bill has taken its first step toward being approved as law in Paraguay. The project, which was introduced in July, was approved in the Paraguayan Senate after a heated discussion, according to reports from its promoter, Senator....
Bitcoin is starting to become a household name when speaking of online payments and its expansion is spreading not only through the United States, but throughout the world. Latin America, however, seems to be embracing it while other countries seem to resent the idea of decentralization. News from Paraguay is that the first Bitcoin ATM will be installed in a restaurant named “Be Okay” meaning that the restaurant becomes the first business in Paraguay to accept bitcoin. The Bitcoin ATM was installed by the actual owner of the restaurant, Juanjo Benitez Rickmann, who happens to be a bitcoin....