Paraguay has become a “new Latin American Mecca for cryptocurrency mining,” a new report has claimed – but not everyone seems to be happy about the fact that more miners than ever are choosing to set up shop in the nation.
As previously reported, the Paraguayan Senate last month signed off on a bill that will regulate crypto mining and trading in the nation. The bill, which has been in the pipelines since September 2021, seeks to legalize mining and ensure that miners pay taxes and declare their activities.
Many Paraguayan politicians have argued that the mining sector could be a major money-spinner for the government and power companies. The nation is home to a number of large hydroelectric power stations that periodically produce surplus power.
As this surplus power often cannot be used by Paraguayans, many advocates have called for international miners to be encouraged to set up shop near dams and power plants. While other industries have little use for irregular power supply,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...