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In its recommendation to the executive branch, the Central Bank of Paraguay said that “cryptocurrencies are not backed by any monetary authority and, therefore, their safekeeping is not supervised.” The intention to regulate the industry and trading of virtual assets “could create a false sense of security,” the Paraguayan monetary
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“On that point we believe that [the cap] has to respond to a cost structure so that it is viable for the installation of electric power supply,” Sosa said, adding that he wants mining companies to pay their tariffs in advance in U.S. dollars, with an annual readjustment in that
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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
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The Senate of Paraguay has passed a bill on Thursday that aims to regulate cryptocurrency mining and trading in the country. Bill Seeks To Regulate Crypto Trading On Thursday, the Senate of Paraguay enacted a law aimed at regulating Bitcoin and cryptocurrency trading and mining in the country. Senator Fernando Silva Facetti,
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One of the main attractions for mining companies is the cost of electricity in Paraguay, which is the lowest in the region at around $0.05 per kilowatt-hour, Paraguayan congressman Carlos Rejala told CryptoX in June, adding that almost 100% of energy production comes from hydroelectric sources. Source
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