Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets.
On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress in a vote of 40 to 12. The bill must now be ratified by the Senate to finally reach President Mario Abdo Benítez.
Aprueban con modificaciones proyecto que regula la industria y comercialización de criptoactivoshttps://t.co/Z8kVoqVWWz@sebagar8 @DipNacBuzarquis @CelsoKennedy @tadeorojasm @bachinunez_nuez @luchozacariasAP @carlitosrejala pic.twitter.com/AlQ0Dh914S
— Cámara de Diputados (@DiputadosPy) May 25, 2022
If ratified, the bill would apply to any individual or organization in Paraguay involved in the mining, commercialization, trading, transfer, production, custody or administration of cryptocurrencies and related functions....
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