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Paraguayan Government Pushes for Harsh Penalties on Illegal Bitcoin Miners

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The Paraguayan government is urging lawmakers to pass a bill that would impose up to 10 years in jail for illegal Bitcoin miners. This legislative move comes in response to significant electricity theft threatening the state-owned National Electricity Administration (ANDE). The proposed bill includes provisions for Paraguayan police and prosecutors to seize and sell off mining equipment from illegal operations, aiming to protect ANDE from energy theft that has resulted in substantial financial losses.

Amidst this crackdown, over 5,000 ASIC miners have already been confiscated this year. The legislative push also suggests a potential temporary ban on Bitcoin mining in the country, reflecting the government’s stringent stance on illegal mining activities. The authorities’ efforts are focused on safeguarding the country’s energy resources and mitigating the financial impact caused by unauthorized cryptocurrency mining.

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