Paraguayan Congress Approves Comprehensive Tracking Bill for Bitcoin Miners

ChainCatcher news, according to CriptoNoticias, the Paraguayan House of Representatives approved two resolutions on December 4th, requesting information on cryptocurrency mining activities. The resolutions, proposed by congresswoman María Constancia Benítez, 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 requires the Ministry of Industry and Commerce to provide information on individuals and companies registered for Bitcoin and cryptocurrency mining; the second resolution requires the National Electricity Administration (ANDE) to provide a list of all electricity connections authorized for cryptocurrency mining, including the names of those responsible and the installation locations.

According to Hashrate Index data, Paraguay currently controls about 3.9% of the global hashrate, ranking fourth in the world, behind only the United States, Russia, and China. With its surplus hydropower resources, the country has become a popular destination for international miners.