Bitcoin Trading and Mining will Now be Regulated in Paraguay
Bitcoin trading and mining will now be targeted by the Paraguayan government. Last month, Paraguay's Chamber of Deputies approved measures to regulate cryptocurrencies despite objections from the country's central bank.
Now Paraguay is laying the groundwork for regulating cryptocurrency activities after the country's senators approved the proposed law.
On Friday, the Senate of Paraguay approved a bill that will regulate and commercialize cryptocurrency trading and mining in the South American country.
Fernando Silva Facetti, Paraguay's minister of Technology, Information and Communications, was pleased to announce the new law via Twitter.
The country's House of Senators already approved the bill in December, but last month the Chamber of Deputies adopted it with amendments. Consequently, the bill has returned to the upper house.
On the basis of the main resolution proposed by the Chamber of Deputies and with the approval of the Senate, the Ministry of Industry and Trade of Paraguay will become the main body of State power. It will punish anyone or any legal entity using cryptocurrency for mining or other services without the necessary permission.
The proposed bill on cryptocurrency has given more powers to the Secretariat for the Prevention of Money Laundering or Assets, which will control the entire investment process carried out by cryptocurrency startups.
https://coin-signal.com/cryptonews/bitcoin-trading-and-mining-will-now-be-regulated-in-paraguay/
#Bitcoin, #Crypto, #Cryptonews, #Law, #Mining, #Paraguay, #PATTERN, #Regulated, #Trading
#CryptoNews, #LawCrypto