Paraguay

Paraguay’s tax authority now requires residents and crypto platforms to report nearly all digital asset transactions over $5,000, including wallet addresses and transaction hashes, aiming to integrate cryptocurrencies into the national tax system while raising privacy concerns.

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Sazmining powers sustainable Bitcoin mining in Paraguay with renewable energy.

The country did not pass a bill that would have clarified rules regarding the cost of electricity imposed on bitcoin miners.

The bill, which does not make bitcoin legal tender in Paraguay, will be discussed by the country’s Chamber of Deputies in 2022.

Carlitos Rejala, who co-authored a Bitcoin bill in July, said if he wins presidency he will turn bitcoin into an official currency in Paraguay.

Architects of Paraguay’s Bitcoin legislation argue that its regulatory framework is the best way to foster a mining industry in the country.

A proposed bill for regulating Bitcoin in Paraguay would require mining licenses and establish investor protections.

The American University of Paraguay will accept bitcoin tuition payments, ahead of forthcoming bitcoin legislation in the country.

The next hotspots for bitcoin mining