Paraguay Roundup: Bitcoin mining, Olympic Aquatic Centre, legalisation of abortion

Low river levels affecting shipments

Low water levels at the Paraguay and Paraná rivers are affecting transportation capacity and causing concern for foreign trade operators in Paraguay. The reduced levels are limiting operations for businesses that rely on these routes, which handle 80% of the country's trade, including iron ore and soybean shipments, MercoPress reports. Weather forecasts are not promising, with continued downpours causing floods in some areas and leaving others dry, according to MercoPress. These conditions are leading to higher costs and longer procedures for carriers. The situation has been exacerbated by back-to-back downpours in 2019, 2020, and 2021, and 2024 is expected to be tough as well.

Regulation of Bitcoin mining

Paraguay lawmaker María Constancia Benítez has proposed a new bill to regulate Bitcoin mining, emphasising the industry's potential to boost the country's economy and technological development. The bill includes anti-money laundering measures and aims to ensure miners adhere to strict environmental regulations.

Building of Olympic Aquatic Centre

Paraguay will build a new National Olympic Aquatic Centre in Asunción, the capital city of Paraguay in preparation for the 2025 Junior Pan American Games. The construction of a New Olympic Aquatic Centre was decided upon during a meeting between the President of the Paraguayan Olympic Committee, Camilo Pérez, the Minister of Sports, and the President of the Republic of Paraguay, Santiago Peña. According to Panam Sports, the $12 million sports infrastructure will be finished in time for the games in the summer of 2025, which will take place in Asunción, Paraguay, for the first time ever.

Shutdown of largest illegal Bitcoin mining farm

Paraguayan authorities have shut down an illegal bitcoin mining farm in Saltos de Guaira, eastern Paraguay involving over 2,700 miners connected to the country's power grid. The operation deemed the largest of its kind, involved the use of supervisory and control systems and AI software to monitor load current peaks. According to reports, the farm bypassed the connection to the electric metre, obtaining energy without being accounted for by the National Power Administration.

UN suggestion to legalise abortion

Paraguay has rejected the UN's suggestion to legalise abortion, citing conflicts with the Constitution. The ruling party is firm in its stance to protect life from conception. The UN also urged changes in the age of consensual marriage and gender orientation for children, but Paraguay's government emphasises the importance of protecting the family and prioritising other issues. “We went and gave very emphatically our position, respect for our Constitution of the Republic of Paraguay that guarantees the right to life from conception. They are free to make the recommendation they want, but we are also free as a sovereign and self-determined people to respect our regulations,” Paraguay's Minister of Childhood and Adolescence, Walter Gutiérrez said.