No crypto for you! A bill that would validate crypto mining in Paraguay was struck down by the country's president.
— FernandoSilvaFacetti The Paraguayan Senate ultimately approved the proposal on July 14, recognizing crypto mining as an industrial activity. They established a 15% tax on its related economic activities, but the decree sees the brackets as an indirect incentive to the industry. It says:
According to the document, in the last twelve months, the industrial investment grew by 220% in the country to $319 million USD, while the GDP increased more than 4% in the past five years. If this rate continues, the national industry could require the total amount of energy produced and available in the country in order to remain sustainable.
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