Paraguayan Senate Approves Cryptocurrency Bill
The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill Passes Senate Discussion Countries in Latam are seeking to standardize and regulate cryptocurrency to bring more clarity to investors dedicated to the industry in the area. On July 14, the Paraguayan senate....
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The Paraguayan Senate has decided to reject the total veto that President Mario Abdo exerted over a proposed cryptocurrency bill on September 2. The Senate defended the initiative, stating that passing the bill would benefit the country due to its effect on tracking the energy consumption of crypto miners and the income that mining taxes would bring to the state.
Paraguayan Senate Affirms Cryptocurrency Bill Approval
The Paraguayan Senate is ready to fight against the president when it comes to the passing of the recently approved cryptocurrency bill. President Mario Abdo exerted....
Who’s one step closer to regulating cryptocurrency use? Brazil is. The Senate Committee, more specifically The Committee on Economic Affairs, settled on a bill. Its aim is to regulate crypto transactions in Brazil. For the bill to become law, it has to be approved in the Senate plenary and then by the Chamber of Deputies. If it goes through those two hoops, the law goes into effect 180 days after publication. Related Reading | Stablecoin Supply Near $200 Billion, Faster Growth Than Rest of Crypto Even though regulation still seems far away, it’s good to remember that the bill started....
A group of Paraguayan lawmakers presented a ‘Bitcoin bill’ in the National Congress last week, but it turned out to be a very different proposal than what crypto followers expected. The bill seeks to control and regulate cryptocurrency transactions and establish taxes. There is no mention of declaring bitcoin or any other cryptocurrencies as legal tender anywhere in the proposal. “Bitcoin Bill” Presented in Paraguay The long-hyped ‘Bitcoin bill’ was at last presented in Paraguay to the National Congress by two lawmakers last week, but it was not what....
A bill that seeks to regulate the local cryptocurrency industry has passed the the Senate of Paraguay. On Dec. 17, 2021, the Senate of Paraguay approved a cryptocurrency bill introduced in July. The provisions, which define several key terms including virtual assets and call for licenses to mine cryptocurrencies, will now be sent to the Deputy Chamber for further deliberation.Senator Fernando Silva Facetti, the bill's sponsor, revealed that it's passed in the Paraguayan Senate after a contentious debate. According to the senator, the law also aims to foster the growth of crypto mining....
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....