Paraguay Pushes for Stricter Penalties on Unauthorized Bitcoin Mining

The Paraguayan government is pushing for a bill that would impose up to 10 years in jail for illegal bitcoin miners. Due to extensive electricity theft impacting the state-owned National Electricity Administration (ANDE). 

The proposed legislation would allow police and prosecutors to seize and sell mining equipment. From illegal operations to protect ANDE from significant financial losses. This year alone, over 5,000 ASIC miners have been confiscated. And there is growing legislative support for a potential temporary ban on bitcoin mining in the country.

Clever Robot News Desk 21^st May 2024