Tag: Paraguay

Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground

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Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […] Original

National Power Administration ANDE Employees Allegedly Involved in Setting up Illegal Bitcoin Mining Farms in Paraguay

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National Power Administration (ANDE) employees have been accused of participating directly in setting up illegal bitcoin mining farms in Paraguay. According to local sources, seven engineers of the institution would have been installing bitcoin farms across the country as the prosecutor’s office is carrying out this investigation with ANDE’s cooperation. Seven ANDE Engineers Involved in […] Original

Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay unveiled a bitcoin mining-centric strategy, Itau Unibanco rolled out crypto trading services for all its customers, and Worldcoin decided to establish a hub in Argentina. Paraguayan Minister Unveils Future Economic Strategy Centered […] Original

Latam Insights: Paraguay Shuts Down Largest Illegal Bitcoin Mining Farm to Date, Argentina and El Salvador Discuss Bitcoin

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay shut down the largest illegal bitcoin mining operation to date, Argentine and Salvadoran officials met to discuss bitcoin issues, and Ocean launched a global hub in El Salvador. Paraguayan Authorities Shut Down […] Original

Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin Mining

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela seizes over 11,000 bitcoin miners to save energy, Paraguay cracks down on illegal bitcoin mining, and Brazil aims to finalize crypto regulations this year. Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over […] Original

Paraguay Cracks Down on Illegal Bitcoin Mining: Over 550 Miners Seized

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Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay […] Original

Paraguay Proposes Harsh Penalties for Illegal Bitcoin Mining

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The Paraguayan government is urging lawmakers to pass a bill that would impose up to 10 years in jail for illegal bitcoin miners, in response to the large amounts of electricity theft threatening the state-owned National Electricity Administration (ANDE). The bill includes provisions for Paraguayan police and prosecutors to seize and sell off mining equipment […] Original

Latam Insights: El Salvador Embraces Geothermal Bitcoin Mining, Bitfarms Expands Its Capacity in Paraguay

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador produced nearly 474 bitcoin using geothermal energy, Bitfarms expanded the capacity of its Paraguayan bitcoin mining facility, and Bitso launched an in-house Web3 wallet. El Salvador Reportedly Mined Nearly 474 BTC […] Original