Paraguay's Congress approves a comprehensive tracking bill for Bitcoin miners

According to CriptoNoticias, the Paraguayan Chamber of Deputies approved two resolutions on December 4, requesting information on cryptocurrency mining activities. The resolutions were proposed by Deputy María Constancia Benítez and aim to strengthen control, transparency, and regulation over the rapidly expanding mining industry.

According to the resolutions, relevant agencies are required to submit reports within 15 days. The first resolution requests the Ministry of Industry and Trade to provide information on individuals and companies registered for Bitcoin and cryptocurrency mining; the second resolution requests the National Electricity Administration (ANDE) to provide a list of all authorized electricity connections for cryptocurrency mining, including the names of responsible individuals and installation locations.

According to Hashrate Index data, Paraguay currently controls about 3.9% of the global hash rate, ranking fourth in the world, behind the United States, Russia, and China. The country has become a popular destination for international miners due to its advantage of surplus hydroelectric power.