Paraguay Decides against Cryptocurrency Law Amid Backlash | Crypto

Paraguay Decides against Cryptocurrency Law Amid Backlash

-The Paraguayan government has vetoed a bill that would have regulated cryptocurrency mining and granted tax exemptions for crypto-related activities.
-The government’s reasoning for the veto includes the high demand for energy required for crypto mining, which could jeopardize the country’s industry, as well as the lack of job creation associated with crypto mining.
-Opposition Senador Fernando Silva Facetti has criticized the government’s decision, saying it rejects the regulation of “a sector that is begging for it.”

shutterstock 2087062186 Paraguay Decides against Cryptocurrency Law Amid Backlash

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