Paraguayan Congress Approves Comprehensive Tracking Bill for Bitcoin Miners

ME News: On December 5 (UTC+8), the Paraguayan House of Representatives approved two resolutions on December 4 requiring information on cryptocurrency mining activities. The resolutions, proposed by legislator María Constancia Benítez, aim to strengthen control, transparency, and regulation of the rapidly expanding mining industry. According to the resolutions, relevant agencies must submit reports within 15 days. The first resolution requires the Ministry of Industry and Commerce to provide information on individuals and businesses registered for Bitcoin and cryptocurrency mining. The second resolution requires the National Electricity Administration (ANDE) to provide a list of all authorized electricity connections for cryptocurrency mining, including the names of those responsible and installation locations. According to Hashrate Index data, Paraguay currently controls about 3.9% of the global hashrate, ranking fourth in the world, behind only the United States, Russia, and China. With its surplus hydropower resources, the country has become a popular destination for international miners. (Source: MetaEra)