Paraguay Business - Brazil

Paraguay: President vetoes crypto regulation bill

By Rocco Caldero · August 31, 2022 · 2 min read

On Monday, August 29, Paraguay’s President Mario Abdo Benítez vetoed a bill recognizing cryptocurrency mining as an industrial activity. He reasoned that the high power consumption of mining could hinder the expansion of a sustainable national industry.

The decree said that crypto mining is capital-intensive and requires little labor, so it would not create the same value as other industrial activities. Globally, cryptocurrency is one of the largest job creators; crypto and blockchain jobs are up 615% in the United States in 2021 compared to 2020.

According to the bill’s proponent, Senator Fernando Silva Facetti, the bill aimed to promote crypto mining by using surplus electricity, but the Paraguayan government chose to ignore the activity in the country.

Paraguayan President Mario Abdo Benitez. (Photo: internet reproduction)

The Paraguayan Senate finally approved the proposal on July 14, recognizing crypto-mining as an industrial activity. According to the document, industrial investment in the landlocked South American country has increased by 220% in the last twelve months to US$319 million, while GDP has increased by more than 4% in the last five years.

If this rate continues, the national industry could require all the energy produced and available in the country to remain sustainable. “If Paraguay wants to intensify crypto-mining today, it will be forced to import electricity in the next four years,” the decree states.

The bill passed by the Senate requires miners to apply for a license and obtain a permit for industrial energy consumption. It also established the Ministry of Industry and Commerce as the primary law enforcement agency and the Secretariat for the Prevention of Money and Asset Laundering to monitor crypto investment companies.

The low energy cost in Paraguay has encouraged domestic and foreign companies to install mining infrastructure in the country starting in 2020. As of December 2021, the cost of electricity was US$0.058 per kWh for households and US$0.049 per kWh for businesses.

With information from Latina Press

Deep Dive

For the complete picture, read our in-depth guide: Paraguay: Washington's Most Valued Ally in Latin America

Live Market IntelligenceCrypto — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

One-stop reference

Company Intelligence

Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.

Browse the directory →

Crypto — Live Market Board

Digital assets
Jul 10, 2026 · 16:04

Bitcoin · benchmark

63,736
+0.86%

L 62,913day rangeH 64,524

-45.05% over 12 months

Market breadth · 17 names

71% advancing

12 ▲ advancing5 declining ▼

Currencies, rates & key inputs

Ethereum

1,783

+2.23%

Solana

77.42

-0.80%

Gold

4,109

-0.52%

USD / BRL

5.11

-0.21%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
BTC	63,736	+0.86%	-45.05%	63,193	64,524	62,913	25,819,975,680
ETH	1,783	+2.23%	-39.65%	1,744	1,805	1,737	9,218,899,968
SOL	77.42	-0.80%	-52.81%	78.05	79.52	77.35	2,065,631,616
XRP	1.10	+0.48%	-56.86%	1.09	1.12	1.09	1,094,077,824
BNB	574.93	+1.14%	-16.15%	568.47	577.48	568.24	1,035,345,088
ADA	0.17	-0.25%	-75.45%	0.17	0.17	0.17	344,825,312
DOGE	0.07	+1.20%	-62.15%	0.07	0.07	0.07	496,391,616
AVAX	6.71	+0.41%	-67.57%	6.68	6.81	6.67	194,838,144
LINK	7.90	+2.13%	-48.19%	7.73	8.00	7.72	198,797,488
DOT	0.87	+5.20%	-77.65%	0.83	0.89	0.82	122,524,832
LTC	44.46	+1.59%	-53.10%	43.77	44.72	43.58	193,249,936
BCH	245.22	+3.13%	-52.69%	237.77	254.31	237.28	133,946,176
TRX	0.33	-0.50%	+12.39%	0.33	0.33	0.33	454,204,064
XLM	0.19	+1.81%	-37.38%	0.19	0.19	0.19	230,141,296
HBAR	0.07	-0.16%	-63.24%	0.07	0.07	0.07	41,966,752
NEAR	1.86	-3.05%	-26.04%	1.92	1.96	1.87	147,848,224
ATOM	1.58	+1.88%	-65.79%	1.55	1.59	1.54	18,985,738
AAVE	95.14	+4.26%	-69.21%	91.26	97.88	90.95	278,439,232

Largest moves today

DOT
0.87
+5.20%

AAVE
95.14
+4.26%

BCH
245.22
+3.13%

NEAR
1.86
-3.05%

ETH
1,783
+2.23%

LINK
7.90
+2.13%

ATOM
1.58
+1.88%

XLM
0.19
+1.81%

The session read

The Bitcoin rose 0.86%, with breadth positive — 12 of 17 names higher. DOT led, while NEAR lagged.

From The Rio Times

Related coverage · 10 Jul 2026

Spend Crypto Without Selling It. Argentina’s Taxman Is Now Watching

Read →

In depth

Bitcoin and crypto in Latin America 2026

Paraguay: President vetoes crypto regulation bill

Daily Brief

Crypto — Live Market Board

Related Articles

Paraguay Lets Starlink Exceed the UN’s Satellite Power Limits

Brazil Says Paraguay’s Weight-Loss Pens Are Not the Same Drug

Paraguay Earns More From Bitcoin Miners Even as Half of Them Leave

Paraguay Wants to Sell Its Spare Power to the AI Boom

Rotate for Best Experience

You've reached your free article limit