Paraguayan lawmakers propose a temporary crypto mining ban due to energy concerns and grid limitations.

Paraguayan lawmakers propose a temporary ban on crypto mining due to energy concerns and power grid limitations. The bill aims to suspend crypto mining farm installations and cryptocurrency creation, storage, and trade for 180 days or until a regulatory framework is established. The move follows power shortages and grid interruptions caused by illegal crypto farms. If passed, the bill would help Paraguay regulate the crypto industry, addressing issues such as consumer protections and potential use in money laundering and tax evasion.

April 04, 2024
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