Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    NewsCryptoMarket

    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin

    Solana, Dogecoin and XRP are under pressure, down sharply over the past…

    By
    Jane Omada Apeh
    June 3, 2025
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    NewsCrypto
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    June 3, 2025
    Pi Network price
    MarketCryptoNews
    Pi Network Faces Uphill Battle as Selling Pressure Mounts, Will Bulls Force a Reversal?
    June 3, 2025
    Correction or Collapse? Bitcoin Bulls on Edge After 8% Dip
    NewsBitcoinCrypto
    Correction or Collapse? Bitcoin Bulls on Edge After 8% Dip
    June 3, 2025
    image 2 Haz 2025 20 23 29
    CryptoMarketNews
    Shiba Inu and XRP Price Forecast: June’s Turning Point for Crypto
    June 2, 2025
  • Cryptocurrency
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    Why SOL, DOGE, and XRP Are Getting Hit Harder Than Bitcoin
    6 Min Read
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    TRON DAO Flexes at Bitcoin 2025 and How Justin Sun Stole the Spotlight
    6 Min Read
    Pi Network price
    Pi Network Faces Uphill Battle as Selling Pressure Mounts, Will Bulls Force a Reversal?
    7 Min Read
    Correction or Collapse? Bitcoin Bulls on Edge After 8% Dip
    Correction or Collapse? Bitcoin Bulls on Edge After 8% Dip
    8 Min Read
    image 2 Haz 2025 20 23 29
    Shiba Inu and XRP Price Forecast: June’s Turning Point for Crypto
    3 Min Read
    image 2 Haz 2025 20 16 30
    Trump Clears Court Hurdle—Is a Crypto Rally on the Horizon?
    3 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Paraguay considers imposing a temporary ban on cryptocurrency mining
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > Paraguay considers imposing a temporary ban on cryptocurrency mining
News

Paraguay considers imposing a temporary ban on cryptocurrency mining

space
dadmin
Last updated: May 12, 2024 5:07 am
By
dadmin
Published May 12, 2024
2 Min Read
Share

Paraguay is considering implementing a temporary ban on cryptocurrency mining due to the strain caused by illegal mining operations on the power grid. The proposed ban, which would last for 180 days or until new laws are enacted, aims to address the issue of unauthorized crypto mining activities that are stealing electricity and disrupting the supply.

Introduced on April 4, the draft law seeks to prohibit the installation of crypto mining farms and activities related to the creation, conservation, storage, and commercialization of cryptocurrencies. It also aims to regulate crypto staking and wallet activities.

The ban would remain in effect until the National Electricity Administration (ANDE) can ensure that it can supply sufficient energy to crypto miners without negatively impacting other users of Paraguay’s electrical system.

The draft highlights the Alto Paraná region, located in the southeast bordering Brazil and Argentina, as a hotspot for crypto mining due to its proximity to the Itaipu hydroelectric dam, which supplies all of Paraguay’s domestic electricity needs. Since February, the region has experienced numerous cases of interrupted power supply attributed to illegal crypto mining operations.

ANDE estimates significant damages and losses caused by each illegal mining farm, with yearly losses in Alto Paraná potentially reaching up to $60 million. The draft argues that implementing crypto regulations would allow Paraguay to better supervise the industry and address issues such as consumer protections, money laundering, and tax evasion.

In 2022, Paraguay nearly passed a tax and legal framework for the crypto and mining sector, but it was vetoed by then-president Mario Abdo Benítez due to concerns about the high power consumption associated with mining activities and its impact on sustainable energy development.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

GENIUS Act Passes Hurdle, Is Stablecoin Clarity Near?

Crypto Investment Products Record Largest Inflows in 5 Weeks: CoinShares

Dubai Crypto Salary Payment: Landmark Decision for Digital Currency Adoption as a Valid Salary Payment

Ethereum’s Renzo Introduces ‘ezSOL’ as Restaking Evolves on Solana

Crypto Market Starts the Week on a Positive Note: Bitcoin and Altcoins Rise!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article space Space Tourism Industry Faces Regulatory Challenges Amid Safety Concerns
Next Article notcoin Notcoin’s Remarkable Surge: A Deep Dive into Its Sudden Market Triumph
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English