Crypto news

Paraguay is going to regulate mining

Paraguay’s lower house of parliament has approved a bill to regulate mining and cryptocurrency trading. This was reported by congressman Carlos Rehala.

The document received 40 votes in favor and 12 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 a permit for industrial power consumption. The initiative would also create a registry for a person or entity that provides cryptocurrency trading or storage services.

In June 2021, Rehala announced a bitcoin-related bill. The congressman later clarified that Paraguay does not plan to give digital gold the status of legal tender, but rather to develop “effective” regulation of cryptocurrencies.

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