The Paraguayan Senate approved increasing the penalty for Bitcoin miners without proper authorization to 10 years in prison, thus continuing the request made last month by Senator Ever Villalba by modifying article 173 of the Penal Code.

The Senate voted on the proposal, which was approved with 29 votes in favor and 7 abstentions (there were no votes against), which also authorizes the seizure and confiscation of ASIC equipment.

Thus, the South American country will increase the penalty to 10 years in prison based on the “crime of theft of electrical energy for commercial or industrial purposes, as well as establishing the confiscation of the equipment used and its subsequent delivery to the National Electricity Administration (ANDE in Spanish)”.

After obtaining approval by the Upper House of Paraguay, it must be sent to the Chamber of Deputies and if it is also approved there, it will be transmitted to the office of President Santiago Peña so that he can promulgate or veto the bill.

It is important to note that there are four other legislative proposals on Bitcoin and activities related to its mining, such as one that proposes its prohibition in the country.

M.Pino

Source: iProup

(Reference image source: Michael Förtsch in Unsplash)

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La entrada Unauthorized Bitcoin mining will be punished with ten years in prison in Paraguay apareció primero en Bitfinance.