The proposed crypto regulatory framework by the lawmakers of Paraguay is only one step away from getting into law officially.
Paraguay officially the Republic of Paraguay is a country in South America. The situation of Paraguay is much similar to El Salvador, which adopted Bitcoin as a legal tender in September 2021. After the adoption of Bitcoin as currency by El Salvador, many speculations claimed that Paraguay may adopt Bitcoin as currency but later the government officials from Paraguay officially talked about such speculations and confirmed that Paraguay will not give legal tender status to any digital currency but may adopt methods to use cryptocurrencies in the payment system.
Last week, on 14 July, The Paraguayan Senate approved the proposed crypto regulatory bill. The proposed bill aimed to bring regulation on those businesses, which are dealing with crypto & crypto mining activities.
Initially, Bill was proposed by Senator Fernando Silva Facetti in July, and after that bill secured approval from Congress in May. Now after the approval from the Paraguayan Senate, this bill is in the phase where it only needs only approval from President Mario Abdo Benítez.
According to available information, the proposed bill includes the provisions to regulate the crypto mining, commercialization, intermediation, exchange, transfer, custody, and/or administration of crypto assets or instruments that allow control over crypto assets.
Interestingly, the crypto companies operating businesses in Paraguay will be treated as those dealing with securities for tax purposes. Indeed it will give a direct advantage to these companies to get exemption from the Value Added Tax (VAT) but will be included in the income tax regime.
Few reports confirmed that there precise provisions for the crypto mining companies to deal with the local power supplier companies. But a small disappointing thing in the proposed bill is the 15% high cost of electricity compared to other industries.
Read also: Doge transactions all time high over last 12 months
Paraguay’s crypto bill waiting to get green light from the president
ETH-ERC20 Mining and Financial Management
✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.
The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:
✅ VIP1: DEPOSIT 50~10000 USDT GET 2% EVERYDAY
✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY
✅ VIP3: DEPOSIT 50001~100000 USDT GET 3% EVERYDAY
✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY
✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY
✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY
✅ VIP7: DEPOSIT OVER 1000001 USDT GET 8% EVERYDAY
📌 You must open wallet (Metamask, Tronlink e.t.c. ) and connect it, for earning income
Support Telegram Group: https://t.me/+TjCkS2KwKfQwZjM0
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.