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Paraguay Will Imprison Illegal Bitcoin Miners

Liputan6.com, Jakarta – The Paraguayan government will ask lawmakers to approve a draft law that proposes imprisoning illegal Bitcoin (BTC) miners for up to 10 years.

Reporting from CryptonewsWednesday (29/5/2024), Paraguay's presidential spokesperson, Paula Carro, said that on Friday 17 May the government had sent the draft law to parliament and marked it as an urgent matter.

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Carro said the bill aims to punish illegal miners with several years in prison. The bill would also allow Paraguayan police and prosecutors to confiscate mining equipment from illegal operators.

The bill also seeks to protect the state-owned National Electricity Administration (ANDE). Carro added that large amounts of energy theft by illegal Bitcoin mining operators is a threat to ANDE.

Provisions in the bill allow courts to impose a maximum sentence of one decade in prison for energy theft crimes.

The proposal also allows ANDE to have police confiscate mining equipment and sell it, and the state-owned company would be the beneficiary.

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Bitcoin Miners Thrive in Paraguay

Bitcoin mining is booming in Paraguay, where lawmakers are fighting to bring it into law. This country has quite large electrical resources which are considered ideal by BTC miners, namely surplus energy from hydroelectric power plants.

However, in recent years, many Paraguay-based miners have attempted to make illegal connections to the power grid and electricity providers have complained they are facing overloads and other problems.

The police responded by taking strong action. Since the start of this year, officers have arrested more than 5,000 ASIC miners.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

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Paraguay Will Imprison Illegal Bitcoin Miners

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