Paraguay Urges Congress to Outlaw Illegal Bitcoin Mining
CryptoNewsTerminal Staff20 May, 2024
Paraguay Urges Congress to Outlaw Illegal Bitcoin Mining
Paraguay's government is urging Congress to pass legislation that would impose steep penalties on illicit bitcoin miners, including prison sentences of up to a decade. The push for the ban follows the National Electricity Administration (ANDE) of Paraguay highlighting the urgent need to prohibit illegal mining due to the excessive electricity consumption by miners. Legislators in Paraguay introduced a bill last month to ban mining. The proposed law would reportedly allow law enforcement to confiscate and sell mining equipment from illegal operations. Paraguayan law enforcement has reportedly seized more than 5,000 ASIC miners so far this year.
