Paraguay proposes up to 10 years in prison for illegal bitcoin miners
2024-05-20 05:09:38
The Paraguayan government is urging lawmakers to pass a bill punishing illegal bitcoin miners with up to 10 years in prison in response to the high volume of electricity theft that threatens the state-owned National Electricity Authority (ANDE). The bill allows Paraguayan police and prosecutors to confiscate and sell illegal mining equipment to protect the ANDE from huge economic losses from energy theft. More than 5,000 ASIC mining machines have been confiscated this year in the crackdown, and legislative momentum could also lead to a temporary ban on bitcoin mining in the country.
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