Paraguay has approved a draft law on regulation of the crypto-engine and mining

Senat Paraguay has approved a law that regulates trade and the production of cryptocurrencies in the country.

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Senator of Paraguay Fernando SilvaFacetti, one of the three authors of the draft law, confirmed the news on Twitter. He announced that the Chamber of Deputies of the Paraguay will discuss the bill next year.

Low cost of electricity in Paraguae -the main reason for the attraction for the companies that take up the mining of cryptocurrencies. It makes about $ 0.05 per kilowatt-hour, while 100% of the energy is produced by hydroenergy sources.

The law says that Paraguayconsumes only a third of the produced energy, and the regulation of the activity for the mining of the cryptowalt can help them to consume thousands of blinks, which are

In the words of Facetti, with a new law, Paraguay tends to recognize crypto mining as a separate branch and create a baseline for the performance of the equipment

The National Securities Commission, from its side, will set the requirements for the registration of mediums for the maintenance of warnings, maintenance, keeping records and maintenance

The law proposes to create a register of individuals and legal entities wishing to provide services of cryptocurrency trade and storage.

Consistent with the draft law, supervision over miningcryptocurrencies will be carried out by the Secretariat of Industry and Trade of the country together with the National Securities Commission, Electricity and Power Management

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