Proponents couldn’t muster the support they needed to overturn the veto.
MPs questioned the veto, arguing that the cryptocurrency problem needs further research.
After failing to get enough traction in the Deputy Chamber, the Paraguayan cryptocurrency bill that had been submitted to Congress in 2021 was eventually placed on hold. After President Mario Abdo blocked the proposal in September, proponents couldn’t muster the support they needed to overturn the veto.
Paraguay’s senate has already voted to override the president’s veto in order to adopt the bill without his approval. The Commission for Industry, Commerce, Tourism, and Cooperatives backed the veto, but the Commission for Economic and Financial Affairs and the Commission for the Fight against Drug Trafficking, Related, and Serious Illicit Activities also voted against it.
Further Research and Regulation
A number of MPs questioned the veto, arguing that the cryptocurrency problem needs further research and regulation. A
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