Paraguay approves mining and crypto trading law

The Paraguayan Senate has approved a bill that regulates cryptocurrency mining and trading. Chamber of Deputiescountries intend to discuss this document as early as 2022, as reported by one of the three authors of this bill.

(3/3) Regarding transactions with crypto assets,the National Securities Commission will establish the registration requirements for intervening agents for negotiation, compensation, custody, and intermediation in the securities market.

- FernandoSilvaFacetti (@FSilvaFacetti) December 17, 2021

The bill introduces the concept of "virtual goods"as a result of cryptocurrency mining. Mining itself is proposed to be designated as one of the sectors of the economy, and the resulting "virtual goods" should be reflected in the financial statements of the respective companies.

It is suggested that miners will requestpermission from the Paraguayan Secretariat of Industry and Commerce for the consumption of energy on an industrial scale, as well as apply for a license for their activities. In addition, it is planned to create a register of trading platforms operating in this country. It is expected that there will be written rules for the custody of cryptocurrencies, as well as certain insurance guarantees for investors in digital assets.

It is important that a South American country witha record surplus of energy and one of the lowest tariffs (five US cents per kWh) in the world, creates a legal framework for cryptocurrency mining. Almost all of the country's energy is generated by hydroelectric power plants, that is, it is produced from renewable energy sources.

Paraguay has apparently accelerated its movement intoside of the cryptosphere, focusing on the experience of El Salvador, a country located in the same region of the world. Let us remind you that the authorities of El Salvador announced a state project for mining cryptocurrencies, and also created a special fund in which bitcoins are purchased.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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