Inside Paraguay’s Proposed Bitcoin Bill
A proposed bill for regulating Bitcoin in Paraguay would require mining licenses and establish investor protections.In a WhatsApp conversation I had with Paraguayan Congressman Carlitos Rejala, he shared the draft of a bill meant to regulate Bitcoin in Paraguay.“With this we want to welcome the innovation of cryptocurrencies in Paraguay to the world,'' Rejala said over WhatsApp. “This is the result of a very strong and arduous teamwork of many experts in the field, both local and foreign.”A translated version of the bill proposal refers to bitcoin and other cryptocurrencies as “virtual....
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The bill, which does not make bitcoin legal tender in Paraguay, will be discussed by the country’s Chamber of Deputies in 2022.
Paraguayan lawmakers have deliberated for a year on a comprehensive crypto regulatory framework that includes considerations for businesses and traders. The Paraguayan Senate passed a bill on July 14 establishing a tax and regulatory framework for businesses operating in the cryptocurrency and the crypto mining sectors.The bill, introduced last July by Senator Fernando Silva Facetti and passed in Congress in May before reaching the Senate, calls for the formation of the Ministry of Industry and Commerce (MIC) to oversee crypto industry service providers. The bill is now one step away from....
The Brazilian Congress failed to address a proposed cryptocurrency bill this week. While the proposed public policy was indeed on the agenda, the deputy chamber focused on discussing bills that tend to other issues, including health and digital education problems. The digital currency bill is scheduled to be discussed again in September.
Brazilian Congress Sidelines Crypto Bill Discussion
The Brazilian Congress, which had slated for this week the discussion and a possible vote of a proposed cryptocurrency bill, sidelined it to deal with other legislative issues. The deputy....
The bitcoin utopia dream from this part of the globe could be in jeopardy. Recent years have witnessed a regulatory boom for cryptocurrencies in South America. This was consistent with the rather optimistic attitude on crypto held by several nations in the region. On Monday, however, the president of Paraguay thumbed down a law that […]
The president of El Salvador Nayib Bukele will submit a bill to its National Congress to approve Bitcoin’s status as a legal tender. This announcement has traveled the world and before its implications could be processed, other nation-states hinted at the possibility of adopting the Bitcoin Standard. Yesterday June 6th, Carlos Antonio Rejala Helman, Paraguay’s […]