Paraguay’s Senate Passes Bitcoin, Crypto Mining, Trading Bill

Dave Harvard
Reading time: 2 minutes

Thursday, the Paraguayan Senate voted again to approve a bill that regulates the mining and trading of cryptocurrencies in the country. The Senate had already passed the bill in December. But the Chamber of Deputies changed it and passed it again in May. So, it needed the approval of the upper house. After being passed by both chambers, the measure must now be sent to the executive branch for approval or veto.

According to the main change proposed by the Chamber of Deputies and approved by the Senate, the Ministry of Industry and Commerce will be the primary law enforcement agency. It will punish anyone or any legal entity that uses cryptocurrency for mining or other services without the necessary permission.

In other news, tech companies are still working in the promising non-fungible tokens (NFTs) field. Despite the risk of the cryptocurrency market. In the most recent news, it looks like Snapchat is trying different ways to give artists digital collectibles.

TechCrunch said that the social media site is looking into ways to let artists use Snapchat AR filters to show off their digital works. The company will not charge creators to use this tool, though. It wants to deal with companies that let creators make money by showing their NFTs on Snapchat.

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