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Paraguay Congress Approves Comprehensive Bitcoin Miner Tracking Bill
Summary: According to reports from CriptoNoticias, the Paraguayan Chamber of Deputies approved two resolutions on December 4 requiring the collection of information on cryptocurrency mining activities. The resolutions, proposed by lawmaker María Constancia Benítez, aim to strengthen control, transparency, and regulation of the rapidly expanding mining industry. Under the resolutions, relevant agencies must submit reports within ...
According to reports from CriptoNoticias, the Paraguayan Chamber of Deputies approved two resolutions on December 4 requiring the collection of information on cryptocurrency mining activities. The resolutions, proposed by lawmaker María Constancia Benítez, aim to strengthen control, transparency, and regulation of the rapidly expanding mining industry. Under the resolutions, relevant agencies must submit reports within 15 days. The first resolution requires the Ministry of Industry and Commerce to provide information on individuals and companies registered for Bitcoin and cryptocurrency mining; the second resolution requires the National Electricity Administration (ANDE) to provide a list of all authorized power connections for cryptocurrency mining, including the names of responsible individuals and installation locations. According to Hashrate Index data, Paraguay currently controls approximately 3.9% of global hash rate, ranking fourth globally behind the United States, Russia, and China. With its surplus of hydroelectric energy, the country has become a popular destination for international miners.
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