Paraguay legislative committee rejects crypto law

The central bank issued strong objections to the law, which passed the upper house in December


The budget committee of Paraguay’s chamber of deputies objected to a proposed cryptocurrency law, citing strong objections from the Paraguayan central bank.

The committee judged the law dangerous, according to an April 26 press release, which referred to a strongly negative opinion on the bill from the Central Bank of Paraguay.

The central bank characterised the proposal as “a high-risk project without benefit to the state”. It also argued that cryptocurrency was likely to attract laundered

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