Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Paraguay's Proposed Bitcoin Bill Propose Mining License and Investor Protection

Paraguay's Proposed Bitcoin Bill Propose Mining License and Investor Protection

Paraguay's proposed Bitcoin bill would require mining licenses and establish investor protections.

According to Congressman Carlitos Rejala, the Bitcoin bill is meant to regulate Bitcoin in Paraguay.

“With this we want to welcome the innovation of cryptocurrencies in Paraguay to the world,” Rejala said. “This is the result of a very strong and arduous teamwork of many experts in the field, both local and foreign,” he continued.

A translated version of the bill proposal (read below) refers to bitcoin and other cryptocurrencies as “virtual assets,” “cryptoactive,” and “cryptocurrency.”

This bill was eight pages long, filled with 22 articles, which was worked on in conjunction with Senator Silva Facetti. This bill is much longer than the bill El Salvador voted into law recently, recognizing bitcoin as legal tender, which didn’t include as many individual regulations.

Paraguay’s proposed bill suggests country’s legislators are seeking tight control over Bitcoin mining in the country, attempting to offer investor protection from bitcoin businesses and specifically indicating that bitcoin is not recognized as legal tender in the country.

The Bill Wants Bitcoin Mining Licenses

As mentioned in “Article 5,” a proposed virtual asset mining license, granted by the Powers of The Ministry of Industry And Trade (MIC), would be required for any entity mining bitcoin. “Article 10” goes into more detail, stating that those who want to mine bitcoin must “request the authorization of industrial electricity consumption.” Then after that has been obtained, they can then “request the authorization license for the industrial exploitation” for bitcoin mining.

Protection for Bitcoin Investors

“Article 11” states that those providing the sales of bitcoin are prohibited from “selling, assigning or transferring their property, giving as a loan or guarantee, or affecting the use and enjoyment of the Virtual Assets that they manage or guard for third parties without the express authorization of the owner.”

This would seemingly protect bitcoin investors whose private keys are in the possession of a business like an exchange or bank from having their bitcoin fractionally reserved or otherwise used without their consent.

Read the full article: Here's What You Need to Know About Paraguay's Proposed Bitcoin Bill – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
×