Paraguay supports cryptocurrency mining bill

The lower house of the Parliament of Paraguay approved a bill regulating the mining and trading of cryptocurrencies. This was announced by Congressman Carlos Rehala.

40 votes were cast for the document, 12 were against. In the future, it will be sent to the Senate for consideration.

According to CoinDesk, the current bill requires miners to obtain licenses and permits for industrial consumption of electricity. The initiative also provides for the creation of a registry for an individual or legal entity that provides services for trading or storing cryptocurrencies.

In June 2021, Rehala announced a bill regarding Bitcoin. Later, the congressman clarified that Paraguay does not plan to give digital gold the status of legal tender, but is going to develop "effective" regulation of cryptocurrencies.