Even with some pushback, Paraguay is leading by example with crypto legislation. The country is ripe to allow the space to flourish.
If ratified, the bill would apply to any individual or organization in Paraguay involved in the mining, commercialization, trading, transfer, production, custody or administration of cryptocurrencies and related functions. The legislation proposes financial and legal guarantees to businesses and individuals, while also imposing restrictions on the matters of electricity spending and taxation.
For example, a translation of article 11 of the bill states: “Crypto mining is recognized as an industrial and innovative activity. This activity will be a beneficiary of all mechanisms and incentives foreseen in the national legislation ” Regulations didn’t come without resistance, though; both the Paraguayan Central Bank and budget commission have
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