Is crypto legal in Paraguay?

Crypto is legal in Paraguay. No law bans owning, trading or mining it, but as of October 2026 Paraguay has no dedicated crypto law, and crypto is not legal tender. Mining, which draws on the country's cheap hydropower, is the area with the most specific rules.

Is bitcoin legal in Paraguay?

Yes, but it is not money. In a May 2019 communiqué the Banco Central del Paraguay (BCP) said crypto has no legal tender status or power to settle debts, because the guaraní is the only legal currency. Nobody can be forced to accept bitcoin. The BCP also said Paraguay has no specific rules for crypto, its issuers or intermediaries, and no local entity supervises crypto transactions. It warned that buyers could lose their whole investment.

What happened to Paraguay's crypto law?

Congress passed a bill in July 2022 to regulate crypto trading and mining. President Mario Abdo Benítez vetoed it in full on August 29, 2022. The Block linked the veto to a clause that would have capped miners' electricity rates at 15% above the industrial tariff, which the utility ANDE opposed. In December 2022 the Chamber of Deputies accepted the veto by 36 votes to 9, and the bill was archived, BeInCrypto reported.

Lawmakers have kept trying. TEDIC, a Paraguayan digital rights group, counted about five crypto bills submitted from April 2024, and a 2024 proposal for a 180-day mining ban was shelved after a public hearing.

Is crypto mining legal in Paraguay?

Yes, when the power is paid for. Decree 7824 of 2022 allows special contracts for intensive power users, and legal mining farms held 47 such contracts valid until 2027, InfoNegocios reported in July 2025. Their terms include payment in dollars, three months' payment in advance and possible disconnection when the grid needs it. Miners' rates rose from $37 to $57 per megawatt hour, according to the same report.

Illegal connections are treated as a crime. Law 7300, promulgated in July 2024, raised the maximum prison term for electricity theft from three to 10 years and lets authorities seize the equipment, ABC Color reported. ANDE's president said the law targets illegal practices, not mining as such. For how mining works, see how does bitcoin mining work.

Is Paraguay crypto friendly?

It is open to mining but has left trading largely unregulated. Investment in mining has passed $1.1 billion, and the miners' chamber, Capamad, has called for formal recognition as an industry, InfoNegocios reported. Compare other countries in is crypto mining legal, is cryptocurrency legal and crypto regulation around the world.

Rules differ by country and change often. Check the regulator or a qualified professional for your own situation.