{"id":455151,"date":"2022-05-30T21:00:00","date_gmt":"2022-05-30T18:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/paraguay-paves-the-way-for-crypto-regulation-despite-internal-opposition\/"},"modified":"2022-05-30T21:00:00","modified_gmt":"2022-05-30T18:00:00","slug":"paraguay-paves-the-way-for-crypto-regulation-despite-internal-opposition","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/paraguay-paves-the-way-for-crypto-regulation-despite-internal-opposition\/","title":{"rendered":"# Paraguay paves the way for crypto regulation despite internal opposition"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3872bd4308d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3872bd4308d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/paraguay-paves-the-way-for-crypto-regulation-despite-internal-opposition\/#%E2%80%9D_Paraguay_paves_the_way_for_crypto_regulation_despite_internal_opposition_%E2%80%9C\" >&#8221; Paraguay paves the way for crypto regulation despite internal opposition &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Paraguay_paves_the_way_for_crypto_regulation_despite_internal_opposition_%E2%80%9C\"><\/span>&#8221; Paraguay paves the way for crypto regulation despite internal opposition &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvY2JhNzdhNTItMzVlMy00Y2JjLWE1MDUtMmJkNTlmMWNjNGVmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets.\u00a0<\/p>\n<p>On May 25, a bill that regulates cryptocurrency trading, mining and custody was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.diputados.gov.py\/index.php\/noticias\/aprueban-con-modificaciones-proyecto-que-regula-la-industria-y-comercializacion-de-criptoactivos\">approved<\/a> by the Paraguayan Congress on a vote of 40 to 12. The bill must now be ratified by the Senate in order to finally reach President Mario Abdo Ben\u00edtez.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">Aprueban con modificaciones proyecto que regula la industria y comercializaci\u00f3n de criptoactivos<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Z8kVoqVWWz\">https:\/\/t.co\/Z8kVoqVWWz<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/sebagar8?ref_src=twsrc%5Etfw\">@sebagar8<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DipNacBuzarquis?ref_src=twsrc%5Etfw\">@DipNacBuzarquis<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CelsoKennedy?ref_src=twsrc%5Etfw\">@CelsoKennedy<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tadeorojasm?ref_src=twsrc%5Etfw\">@tadeorojasm<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bachinunez_nuez?ref_src=twsrc%5Etfw\">@bachinunez_nuez<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/luchozacariasAP?ref_src=twsrc%5Etfw\">@luchozacariasAP<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/carlitosrejala?ref_src=twsrc%5Etfw\">@carlitosrejala<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/AlQ0Dh914S\">pic.twitter.com\/AlQ0Dh914S<\/a><\/p>\n<p>\u2014 C\u00e1mara de Diputados (@DiputadosPy) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DiputadosPy\/status\/1529548675009155074?ref_src=twsrc%5Etfw\">May 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nIf ratified, the bill would <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly 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. <\/p>\n<p>For example, a translation of article 11 of the bill states: \u201cCrypto 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 \u201d<\/p>\n<p>Regulations didn\u2019t come without resistance, though; both the Paraguayan Central Bank and budget commission have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bcp.gov.py\/comunicado-del-bcp-sobre-monedas-virtuales-o-criptomonedas-n1153\">expressed<\/a> their disapproval of digital currencies, calling the movement a \u201chigh-risk project with no benefit for the state.\u201d This statement was also accompanied by the usual suspicion that cryptocurrencies aid criminal enterprise and substantially increase electricity costs.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Latin America\u2019s largest digital bank will allocate 1% to BTC, offer crypto investment services<\/em><\/strong><\/p>\n<p>Paraguay is one of several Latin American countries\u00a0activelyexploring the regulation of digital assets. El Salvador began the trend of legalization in June 2021 by recognizing Bitcoin (BTC) as legal tender. Other countries with ongoing crypto regulation discussions include Brazil, Argentina, Uruguay, and Panama.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/paraguay-paves-the-way-for-crypto-regulation-despite-internal-opposition\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Paraguay paves the way for crypto regulation despite internal opposition &#8220; Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets.\u00a0 On May 25, a bill that regulates&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvY2JhNzdhNTItMzVlMy00Y2JjLWE1MDUtMmJkNTlmMWNjNGVmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76853,79490,70934],"class_list":["post-455151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-latin-america","tag-south-america","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455151"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455152"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}