Bitcoin Bill Rejected By Paraguay’s President – Here’s Why
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 […]
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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.
A proposed bill for regulating Bitcoin in Paraguay would require mining licenses and establish investor protections.
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....
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 […]
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....