July 25, 2021

Paraguay to Consider Cryptocurrency Legalization Law

Paraguay to Consider Cryptocurrency Legalization Law

Cryptocurrency Bill Announced Last Month To Go To Parliament Today Paraguay.

Last month the government of El Salvadorvoted to make bitcoin legal tender. At the same time, Paraguayan MP Carlitos Rehala spoke about the preparation of a similar bill on the legalization of digital assets in the country.

Today, the draft law for regulating cryptocurrency transactions will be submitted to the National Congress of the country.

The author of the law, Carlitos Rehala, developed the foundations of the regulatory framework for cryptocurrency trading and mining in the country.

The explanatory note to the document states thatbitcoin is recognized as legal tender. In cryptocurrency, you can set prices, pay for goods and services, and pay taxes. At the same time, cryptocurrency exchange operations are not subject to taxation.

Whether Paraguay will become another friendly jurisdiction for cryptocurrency after El Salvador will become known after a vote in parliament.

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