Paraguay paves the way for crypto regulation despite internal opposition By Cointelegraph

Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets.

On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress in a vote of 40 to 12. The bill must now be ratified by the Senate to finally reach President Mario Abdo Benítez.