Paraguay’s Senate Approves Proposal Regulating Crypto Mining and Trading

Posted on by American Coins & Gold

Paraguay’s Senate Approves Proposal Regulating Crypto Mining and Trading
The Senate of Paraguay passed a bill on Thursday that regulates the mining and trading of cryptocurrencies.Paraguay’s Chamber of Deputies will discuss the bill in 2022, as confirmed on Twitter by Paraguayan Sen. Fernando Silva Facetti, one of the three authors of the measure.Miners – either individuals or companies – will need to request authorization for industrial electricity consumption and then apply for a license, the bill notes.Paraguay’s Industry and Commerce Secretariat will enable and supervise crypto mining within the country, according to the bill, with the country’s National Securities Commission, Anti-Money Laundering Office and National Electricity Administration also regulating…