Beautiful Virgin Islands

Monday, Sep 01, 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
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×