The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill Passes Senate Discussion Countries in Latam are seeking to standardize and regulate cryptocurrency to bring more clarity to investors dedicated to the industry in the area. On July 14, the Paraguayan senate greenlighted a cryptocurrency…
Tag: Paraguayan
Paraguayan Senate Passes Bill Regulating Crypto Mining and Trading
The main modification proposed by the Chamber of Deputies, and accepted by the Senate, is that the primary law enforcement authority will be the Ministry of Industry and Commerce, which will penalize those individuals or legal entities carrying out mining or providing services with crypto without the corresponding authorization. Source
Paraguayan Bill Regulating Crypto Mining and Trading Moves Closer to Law
The country’s Senate in December had already passed similar legislation, and the bill will now return to that body with the Chamber of Deputies’ modifications. Once the Senate approves the changes, the pending law would move to the executive branch, which hasn’t yet signaled whether it will sign or veto. Source