The legislation was approved by amendments to the country's House of Representatives. The bill regulating crypto trading and mining, passed by a vote of 40-12 on Wednesday, will soon be enacted into law. Paraguay had already passed a similar law last December. The new law includes a number of changes. The next step is for the Senate to approve the changes.
Bill Aims To Attract Crypto Miners To Paraguay
Paraguay has the lowest electricity price in Latin America at around 5 cents per kilowatt hour. Persons and institutions applying for a license will be able to mine Bitcoin with industrial electricity consumption.