Paraguayan lawmakers submit bill to ban Bitcoin mining and other businesses for at least 180 days

Several Paraguayan lawmakers have introduced a bill seeking to temporarily ban cryptocurrency mining operations in the country due to their use of large amounts of electricity resources. The bill, submitted to Congress on April 3, proposes a 180-day ban on the operation and deployment of cryptocurrency mines and other operations involving crypto assets. This ban may be extended until a law regulating these activities is enacted. It is reported that illegal cryptocurrency mining operations have caused significant financial losses to the country's National Electricity Agency (ANDE). According to the bill, these operations may cause losses of $60 million in 2024 in the Upper Paraná province alone, and attribute recent energy blackouts to illegal cryptocurrency mining operations. (Bitcoin.com)