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Bitcoin Mining / Proposed ban on bitcoin mining in Paraguay due to power problems.
« on: April 05, 2024, 11:13:00 AM »A ban on BTC mining has been proposed in Paraguay due to electricity problems. Under the proposed law, the ban would not only apply to bitcoin mining, but critics say it could also lead to a ban on cryptocurrency betting and even the use of cryptocurrency wallets.
The proposed bill would require the ban to be in effect for either 180 days or until the appropriate legal framework is in place and Paraguay's National Electricity Authority (ANDE) can provide sufficient infrastructure to support the energy-intensive needs of cryptomining without jeopardizing the rest of the grid.
The broad language of the bill could also inadvertently lead to the prohibition of activities such as cryptocurrency steaking, which involves the creation of virtual assets, as well as prohibit the mere storage of digital assets in a wallet, which is effectively an act of cryptocurrency preservation.
Source: https://decrypt.co/224880/bitcoin-mining-ban-paraguay-power-grid