Paraguay Senate Passes Bill Imposing Prison Time for Illegal Bitcoin Mining

IconCryptoNewsTerminal Staff12 Jul, 2024

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Paraguay Senate Passes Bill Imposing Prison Time for Illegal Bitcoin Mining

Paraguay's Senate has passed a bill that could result in prison sentences of up to 10 years for individuals involved in illegal Bitcoin mining operations. This development follows concerns raised by the National Electricity Administration (ANDE) regarding the excessive energy consumption associated with mining activities. Last month, Paraguayan lawmakers proposed legislation to prohibit mining, which has now been approved by the Senate. The bill's passage underscores the growing scrutiny of illicit Bitcoin mining practices worldwide. It serves as a reminder of the importance of adhering to regulations and operating mining operations in a responsible and sustainable manner.