Paraguay Proposes Bitcoin Mining Ban Citing Power Issues

A group of lawmakers in Paraguay have called for a temporary banning of Bitcoin mining, which they say has been interrupting the nation’s power supply. In a bill introduced on April 4, fourteen Paraguayan senators have called for temporary prohibition of creation, and storage of cryptocurrencies, along with banning crypto mining farms in the territory. The lawmakers argued that crypto miners “take advantage” of the nation’s relatively low power tariffs. The government of Paraguay has been preparing to fiercely fight illegal bitcoin mining operations. The bill noted that the ban would last for 180 days or until a proper regulatory framework is established.

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