Yugocean
Valued Contributor
The Parliament of the Latin American country Paraguay has accepted a proposal to regulate crypto mining and trading. However, it is yet to be discussed by the Chamber of Deputies in 2022.
License for consumption of industrial electricity has to be obtained from the authority in the form of individual or company for mining cryptocurrencies.
The concept of exchange is not covered in the said bill, but a registry for providing crypto trading or custody services to third parties is informed.
The cost of electricity in Paraguay is $0.05 per kWh which is much cheaper in South America; also Paraguay consumes only a third of the energy it produces, so it has enough electricity for mining.
The big point is that, Paraguay is allowing "cryptocurrency" and not just "Bitcoin". So it may go ahead of El Salvador if succed.
License for consumption of industrial electricity has to be obtained from the authority in the form of individual or company for mining cryptocurrencies.
The concept of exchange is not covered in the said bill, but a registry for providing crypto trading or custody services to third parties is informed.
The cost of electricity in Paraguay is $0.05 per kWh which is much cheaper in South America; also Paraguay consumes only a third of the energy it produces, so it has enough electricity for mining.
The big point is that, Paraguay is allowing "cryptocurrency" and not just "Bitcoin". So it may go ahead of El Salvador if succed.
