{"id":66543,"date":"2022-08-31T14:47:51","date_gmt":"2022-08-31T11:47:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66543"},"modified":"2025-09-07T01:54:16","modified_gmt":"2025-09-06T22:54:16","slug":"paraguayan-president-vetoes-cryptocurrency-mining-bill","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paraguayan-president-vetoes-cryptocurrency-mining-bill\/","title":{"rendered":"Paraguayan President vetoes cryptocurrency mining bill"},"content":{"rendered":"<p>Paraguayan President Mario Abdo Ben\u00edtez vetoed a bill regulating cryptocurrency mining and trading.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">By Decree No. 7692 the Executive Branch fully objects to the bill aimed at regulating cryptocurrency mining in the country \ud83d\udc49 <a href=\"https:\/\/t.co\/sDHUERhUe1\">https:\/\/t.co\/sDHUERhUe1<\/a> <a href=\"https:\/\/t.co\/VpgQij4AFh\">pic.twitter.com\/VpgQij4AFh<\/a><\/p>\n<p>\u2014 Presidencia Paraguay (@PresidenciaPy) <a href=\"https:\/\/twitter.com\/PresidenciaPy\/status\/1564376136058126336?ref_src=twsrc%5Etfw\">August 29, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the president&#8217;s view, the high electricity consumption associated with mining digital assets could hinder the development of a sustainable national industry.<\/p>\n<p>Senator Fernando Silva Facetti criticised Ben\u00edtez&#8217;s decision. He noted that such an approach &#8216;is evidence of short-sightedness&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">1# Today we received from @PresidenciaPy the TOTAL VETO to Law &#8216;That regulates mining, marketing, intermediation, exchange, transfer, custody and administration of CRYPTOASSETS&#8217; ignoring the existence of this activity that today operates in the regulatory shadow. (thread open)<\/p>\n<p>\u2014 FernandoSilvaFacetti (@FSilvaFacetti) <a href=\"https:\/\/twitter.com\/FSilvaFacetti\/status\/1564579345016012801?ref_src=twsrc%5Etfw\">August 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The president is opposed to regulating a sector that requires oversight and undermines the ability to attract new investors and formalize hundreds of small and medium-sized companies operating in this industry,&#8221; wrote Facetti.<\/p>\n<\/blockquote>\n<p>In late May, the document with amendments <a href=\"https:\/\/u1f987.com\/en\/news\/paraguays-lower-house-approves-bill-regulating-cryptocurrency-mining\">was approved by the country&#8217;s lower house of Parliament<\/a>. The main change concerned transferring supervisory functions to the Ministry of Industry and Trade.<\/p>\n<p>The bill envisaged licensing miners, as well as creating a registry of individuals and entities providing trading and custody services for digital assets to third parties.<\/p>\n<p>In July, the initiative <a href=\"https:\/\/u1f987.com\/en\/news\/paraguays-senate-approves-bill-regulating-cryptocurrency-mining-and-trading\">was endorsed by the Paraguayan Senate<\/a>, after which the document was sent to the head of state for concurrence.<\/p>\n<p>Earlier Congressman Carlos Rehala <a href=\"https:\/\/u1f987.com\/en\/news\/paraguay-to-introduce-bill-to-legalise-bitcoin\">announced a bill<\/a> concerning Bitcoin. Later he clarified that Paraguay <a href=\"https:\/\/u1f987.com\/en\/news\/paraguay-clarifies-bitcoin-legislation-initiative\">does not intend<\/a> to grant digital gold the status of legal tender, and plans to craft an &#8216;effective&#8217; regulation of cryptocurrencies.<\/p>\n<p>Earlier, Panama&#8217;s President Laurentino Cartiso also <a href=\"https:\/\/u1f987.com\/en\/news\/panamas-president-does-not-back-a-cryptocurrency-bill\">did not back<\/a> the parliament&#8217;s document regulating the use of cryptocurrencies in its current form.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paraguayan President Mario Abdo Ben\u00edtez vetoed a bill regulating cryptocurrency mining and trading.<\/p>\n","protected":false},"author":1,"featured_media":66544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1482,36],"class_list":["post-66543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-paraguay","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66543"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66543\/revisions"}],"predecessor-version":[{"id":66545,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66543\/revisions\/66545"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66544"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}