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The Senate of Paraguay passed a bill establishing the regulatory framework for cryptocurrency industry.
At the end of May, the amended document was approved inthe lower house of the country's parliament. The main change is in the appearance of a supervisory body. According to the project, it will be the Ministry of Industry and Trade (MIC).
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The powers of the MIC will include the licensing of miners. It is planned to create a register of individuals and legal entities that provide trading and storage services for digital assets to third parties.
Regulators include the Secretariat for the Prevention of Money Laundering, the National Securities Commission and the National Energy Administration.
The bill has been submitted to the President of Paraguay, Mario Abdo Benitez.
Recall that in June 2021, Congressman Carlos Rehala announced a bill regarding bitcoin.
He later clarified that Paraguay does not plan to give digital gold the status of legal tender, but is going to develop "effective" regulation of cryptocurrencies.
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