Paraguay’s President Vetoes Proposed Crypto Industry Regulation

Paraguay’s president Mario Abdo Benítez vetoes proposed crypto industry regulation that would regulate crypto mining and other commercial activities related to digital assets. Benítez questioned whether the 15% cap would be enough to cover the costs of energy consumption, alleging that "illegal connections" in the country’s crypto mining sector had been causing economic losses. The bill will go back to both chambers of Paraguay’s legislature, where lawmakers can reconsider the proposal or accept the veto.