President of Paraguay vetoes crypto regulation law
The bill was approved by the nation's Senate in July as low-energy costs continue to boost mining activities in the country. Paraguay's president, Mario Abdo Benítez, vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity on Monday. He reasoned that mining's high electricity consumption could hinder the expansion of a sustainable national industry. The decree stated that crypto mining uses intensive capital with low manpower usage, and therefore would not generate added value on par with other industrial activities. Around the world, cryptocurrency is one of....
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The President of Paraguay, Mario Abdo has issued an executive veto on a recently approved cryptocurrency bill. Abdo’s veto decree states cryptocurrency mining is an “energy-intensive” and a low-value-added activity. The bill will now be returned to Congress to be approved again or to be rejected entirely.
President of Paraguay Considers Cryptocurrency Mining an Energy Intensive Activity
The President of Paraguay, Mario Abdo, has exerted an executive veto on the recently approved cryptocurrency bill, after more than a year of discussions in the Paraguayan....
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....
Laurentino Cortizo, president of Panama, has exercised his veto powers to make a series of objections to the recently approved cryptocurrency law. The observations of the president only touch on certain articles and do not affect the law in its entire scope. However, these articles of the bill will have to be re-discussed, taking into account the observations of Cortizo.
Cortizo Vetoes Crypto Law in Panama
Laurentino Cortizo, the president of Panama, has vetoed the recently approved cryptocurrency law, sending it back to the National Assembly to be discussed. The veto was a....
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....