After the initial refusal of the Paraguayan government to recognize cryptocurrencies as a reliable and solid financial asset for the operation of all kinds of transactions , the sudden opening of Latam to the recognition of crypto assets , prompted the Paraguayan Senate to discuss and promulgate a bill in December 2021 that seeks to regulate the use of cryptocurrencies in the country.
Not only the adoption of cryptocurrencies as an asset of real value for commercial operations, the senate debate in Paraguay led to the regulation of cryptocurrencies in Paraguay going further. Enabling even the virtual asset mining industry to operate in the country, and even guaranteeing access to resources such as electricity for this sector.