Paraguay is considering a Bitcoin mining ban, which could cost the country $200 million annually. Lawmakers are now reconsidering the ban and exploring the option of selling excess energy to Bitcoin miners instead of exporting it. The Paraguayan Senate has postponed a decision on the anti-mining law and will hold a public hearing on April 23 to discuss the issue further.
NEW: 🇵🇾 Paraguay to hold hearing on April 23 to debate pros and cons of a #Bitcoin ⛏️ mining ban. https://t.co/1tjOJD5x3l
NEW: 🇵🇾 Paraguayan Senate's complete turnaround on #Bitcoin mining 🙌 1) Public hearing set for 4/23 to discuss Cryptomining. 2) Decision on anti-mining law deferred by 30 days. 3) Senators propose selling surplus energy to miners instead of exporting to 🇧🇷 Brazil and Argentina https://t.co/y97QZTCTLW
Paraguay fighting to cancel the #Bitcoin mining ban. Why sell your surplus of energy to foreign countries if you can sell it to #BTC mining companies within your country? https://t.co/vJpVupP0sv
Paraguay reconsiders bitcoin mining ban and favours selling excess electricity to them instead https://t.co/jkCRxDyvmf
PARAGUAYAN LAWMAKERS CONSIDER SUPPORTING BITCOIN MINING INSTEAD OF BANNING - Paraguayan senators have paused progress on the proposed cryptocurrency mining ban, opting for a strategic shift. - Instead of enforcing the ban, officials are exploring the potential of leveraging… https://t.co/lq4x5ecrDd https://t.co/MtdN7WTx9j
UPDATE: PARAGUAYAN LAWMAKERS RECONSIDER CRYPTOCURRENCY MINING BAN, PROPOSING TO DIVERT SURPLUS ENERGY FROM THE NATION'S HYDROPOWER STATION TO #BITCOIN MINERS
Paraguayan senators have paused progress on a cryptocurrency mining ban and are considering selling excess energy from the world's second-largest hydropower station to Bitcoin miners instead of exporting it to Brazil and Argentina, expected to bring in more than $125 million.… https://t.co/h9adTCHG2z
Paraguayan lawmakers are now urging a rethink of the proposed #Bitcoin mining ban. https://t.co/wPZI3Tgo8M
NEW: “Banning #Bitcoin mining could cost Paraguay more than $200M a year, assuming the country has 500 MW of legal miners paying $0.05 per kWh in operating expenses,” says Hashlabs Mining’s co-founder and chief mining strategist Jaran Mellerud https://t.co/MS7TZPRr5G
If a Bitcoin mining ban will cost Paraguay's economy $200 million per year, how damaging would a similar ban be in the United States? President Biden's proposed 30% mining tax is so punitive it is a de facto ban. The U.S. must embrace innovation not big government mandates. https://t.co/omEEmNrcR5
Paraguayan lawmakers proposed a draft Bitcoin mining ban on April 4. If passed, the ban will last for 180 days or until new laws are introduced. Paraguay attracts many Bitcoin miners because of its cheap hydropower resources. Cointelegraph reported https://t.co/CLrALhPxV4
Enforcing a Bitcoin mining ban in Paraguay could cost the country $200 million annually, argues @JMellerud. https://t.co/yI1OHvcoFZ
#Latam Insights: #Paraguay Targets #Bitcoin Miners, #Brazil Mulls #Crypto Taxation Changes https://t.co/VUs0l3GM3x
After Argentina, Paraguay 🇵🇾 is the next country in Latam looking for a more strict regulatory framework towards #Bitcoin and cryptocurrencies, especially focusing on mining 👀 My latest for @Forbes with comments from @criptoboi https://t.co/PZRuCxBj38