2024

FOMO

Bitcoin

Paraguay’s Congress is currently scrutinizing three bills concerning the regulation and management of cryptocurrencies within the nation. These legislative proposals, originating from both the Senate and Chamber of Deputies, aim to establish a regulatory framework for the digital currency and crypto mining industries.&nbsp; 
In the Chamber of Deputies, one bill by Derlis Rodríguez advocates for the introduction of a digital version of the national currency, the guaraní, and the acceptance of Bitcoin as legal tender. This proposal highlights the need for stringent regulations to mitigate risks like money laundering and tax evasion associated with crypto transactions. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨 BREAKING 🚨 PARAGUAYAN DEPUTY PRESENTED A BILL TO LEGALISE &amp; RECOGNISE <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">#BITCOIN</a> AS A LEGAL TENDER. WORLDWIDE FOMO HAS STARTED 🔥 <a href="https://t.co/z9Vmg1WgAW" target="_blank" data-wpel-link="external">pic.twitter.com/z9Vmg1WgAW</a>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1782816824939233373?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 23, 2024</a>
 </blockquote> 
 </div>
</figure> 
Details of Proposed Regulations 
One Senate bill proposes a temporary 180-day ban on crypto-related activities, including the creation, storage, and commercialization of virtual assets, pending the development of appropriate regulations. 
The Senate’s temporary prohibition intends to address urgent issues such as illicit electrical connections by crypto mining operations, which have reportedly led to significant electricity losses. This measure also seeks to prevent unregulated activities that could facilitate financial crimes.&nbsp; 
Another legislative proposal by Deputy Yamil Esgaib emphasizes the need for local control over the cryptocurrency industry. It requires all individuals and entities involved in the intermediation, marketing, exchange, or storage of virtual assets in Paraguay to register and comply with national regulations.&nbsp; 
The outcome of these bills could influence global practices in the digital economy. As the country harnesses its substantial renewable energy resources, it stands at a crossroads that could stimulate its digital economic sector. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/08/paraguay-faces-200m-annual-loss-with-bitcoin-mining-ban/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Paraguay Faces $200M Annual Loss with Bitcoin Mining Ban</a> 
</blockquote>

Paraguay Congress Debates to Make Bitcoin Legal Tender

The Crypto Times

23 अप्रैल 2024 को प्रकाशित अन्य लेख

Bitcoin to $200K in ’18-24 months’ – What will drive the price?

PayPal Aims to Green Bitcoin Mining with Rewards System

DFINITY Foundation Launches Olympus, a Decentralized Global Acceleration Platform on the Internet...

Canaan Executives Eye $2M Shares Purchase Post Halving

DeeStream presale draws Tether, Tezos investors amid BTC halving buzz

Turn Pocket Change into a Passive Fortune: 3 Under-the-Radar Coins Poised for Explosive Growth

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!