Paraguay Confiscates 2,738 Bitcoin Mining ASICs in Electricity Crackdown
CryptoNewsTerminal Staff31 May, 2024
Paraguay Confiscates 2,738 Bitcoin Mining ASICs in Electricity Crackdown
Paraguay has cracked down on illegal bitcoin mining, seizing 2,738 ASICs, and five transformers in the Salto del Guairá area. The confiscated miners were allegedly using unmetered electricity, a growing problem in the region. Authorities are stepping up enforcement and imposing stricter penalties for those engaging in unauthorized Bitcoin mining activities. The National Electricity Administration of Paraguay (ANDE) was responsible for the seizure, emphasizing the importance of responsible energy use. This latest action is part of a broader effort to regulate the cryptocurrency industry, with the government recently proposing legislation that could impose prison sentences for illegal bitcoin miners. Stay tuned for further updates as the situation in Paraguay continues to unfold. ```
