Paraguay poised to legalize use of bitcoin and cryptomining

Latin America remains at the forefront when it comes to regulation, adoption and acceptance of cryptocurrencies. After El Salvador's Bitcoin Law, now Paraguay is increasingly closer to legalizing bitcoin and cryptocurrency mining.

RIO DE JANEIRO, BRAZIL - The South American country this week discussed a bill in the Senate that has been pending for several months, which could not only legalize the use of bitcoin, but could also potentially open up Paraguay's huge hydroelectric power capacity to the cryptocurrency industry.

The bill was conceived by a group of miners together with deputy Carlos Rejala, who began pushing the idea at the same time that El Salvador's president Nayib Bukele announced his decision to make BTC legal tender in the Central American country.

The minority Hagamos Party deputy attracted international interest by . . .

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