Paraguay Senate Approves Crypto Bill

Key Points:

(2/3) This new legislation aims to recognize mining of virtual asset as an industry, establishes the grounds to guarantee access to energy and requirements that guarantee the formalization of an expandind sector....

— FernandoSilvaFacetti (@FSilvaFacetti) December 17, 2021

• Paraguay’s senate recently approved a cryptocurrency bill introduced in July

• The bill seeks to regulate the trading and mining of cryptocurrencies in the country and will proceed to Paraguay’s Chamber of Deputies

  • To be further debated in 2022

• The bill also recognizes the legality of certain cryptocurrency related activities such as mining, when in compliance with regulations

• Some of the regulations include: companies and individuals requiring a license for mining, trading or offering custody

Read more: article 1, article 2