According to Odaily Planet Daily, Paraguayan lawmakers recently submitted a bill to impose a ban on Bitcoin mining and other businesses for at least 180 days. Jaran Mellerud, co-founder and chief mining strategist at Hashlabs Mining, said that assuming the country has 500 megawatts of legal mining equipment and an operating cost of $0.05 per kilowatt-hour, banning Bitcoin mining could cause Paraguay to lose more than $200 million per year. Mellerud believes that Bitcoin mining has made a significant and positive contribution to Paraguay's trade balance so far.
Earlier news, several Paraguayan lawmakers proposed a bill to temporarily ban the country's cryptocurrency mining operations because it uses a lot of electricity resources. The bill was submitted to Congress on April 3 and proposed a 180-day ban on the operation and deployment of cryptocurrency mines and other businesses involving cryptocurrency assets. This ban may be extended until the law regulating these activities is enacted.