Paraguay’s President Turns Down a Proposed Crypto Mining Bill
President Mario Abdo Benítez did not greenlight the regulatory bill, which could have turned cryptocurrency mining into an industrial activity. The President of Paraguay – Mario Abdo Benítez – vetoed a bill that could have regulated cryptocurrency mining and turned it into an industrial activity. The reason appears to be the high electricity consumption.
Over the past several months, Paraguay made some significant steps toward the digital asset universe. Some reports suggested that the South American country might follow El Salvador’s example and make bitcoin legal tender. At the end of 2021, the Senate approved a bill that could have regulated and promoted cryptocurrency trading and mining activities. He argued that crypto mining operates in a gray area, and it also uses a considerable amount of energy, which could harm Paraguay’s national electricity network:
Source
https://t.me/Cash_Blockchain_News
