Paraguay proposes up to 10 years of imprisonment for illegal Bitcoin miners

ChainCatcher news, the Paraguayan government urges lawmakers to pass a bill that imposes up to 10 years of imprisonment on illegal Bitcoin miners to address the significant theft of electricity threatening the state-owned National Electricity Administration (ANDE).

The bill stipulates that Paraguayan police and prosecutors can confiscate and sell illegal mining equipment to protect the National Electricity Administration from the enormous economic losses caused by energy theft. In this crackdown, more than 5,000 ASIC miners have already been confiscated this year, and the legislative momentum could potentially lead to a temporary ban on Bitcoin mining in the country.