Paraguay proposes up to 10-year prison sentences for illegal Bitcoin miners

The Paraguayan government is urging legislators to pass a bill that would impose up to 10 years of imprisonment on illegal Bitcoin miners to address the large-scale electricity theft that threatens the state-owned National Electricity Administration (ANDE). The bill stipulates that Paraguayan police and prosecutors can confiscate and sell illegal mining equipment to protect ANDE from the huge economic losses caused by energy theft. In this crackdown, more than 5,000 ASIC mining machines have been confiscated this year, and the legislative momentum may also lead to a temporary ban on Bitcoin mining in the country.