Paraguay Proposes 180-Day Bitcoin Mining Ban

In response to power grid disruptions, Paraguay's senators propose a 180-day ban on Bitcoin mining to establish regulations.
Paraguay Proposes 180-Day Bitcoin Mining Ban
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Key Takeaways

  • Paraguay senators propose a 180-day Bitcoin mining ban.
  • Bitcoin mining is being blamed for power grid disruptions in Alto Paraná.
  • The bill seeks to regulate mining and impose sanctions for violations.

A group of 14 senators in Paraguay have proposed a 180-day suspension of Bitcoin mining.

The proposal aims to address concerns over the nation’s electricity supply stability.

Impact on power grid

Bitcoin mining operations are blamed for disruptions in Paraguay’s power grid.

The Alto Paraná region, home to the Itaipu hydroelectric dam, has experienced 50 power outages since February, attributed to illegal connections by mining operations.

Proposed regulations and sanctions

The bill seeks to halt various activities related to Bitcoin mining and imposes sanctions for violations.

These include penalties under the national financial system, the Central Bank of Paraguay, and the criminal offenses outlined in Law No. 1160/1997.

Community response and future considerations

Local experts and miners are advocating for a public hearing to discuss alternative regulatory measures.

The bill’s future remains uncertain, with further debate and consideration needed in Paraguay’s legislative process.

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