Sticking To The Regulated Path For Bitcoin In Paraguay
Architects of Paraguay’s Bitcoin legislation argue that its regulatory framework is the best way to foster a mining industry in the country.A few weeks ago, Paraguayan Congressman Carlitos Rejala sent us a translated version of legislation seeking to clarify the legal status of bitcoin and other cryptocurrencies in his country. Coming shortly after lawmakers in El Salvador — located just 3,000 miles away — had established bitcoin as legal tender, many in the space were optimistic that this legislation would attempt to grant BTC similar status in Paraguay. That was not the case. While El....
Related News
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 […]
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....
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....
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....
The growth of illegal bitcoin mining operations could affect the stability of the power system in Paraguay, according to statements from the National Power Administration. The boom the country is experiencing is taking its toll on the power system, with many miners plugging in illegally and consuming high amounts of power without making payments. Paraguay Underground Mining Operations Grow Paraguay’s popularity as a country with cheap power tariffs for bitcoin mining is hurting the electric grid and might work against the stability of the power system in the country. ANDE, the....