The National Power Administration of Paraguay (ANDE) has announced an increase in power tariffs for bitcoin and cryptocurrency mining operations in the country that threatens the permanence of these companies. According to local media, ANDE raised power tariffs for crypto asset mining, blockchain, token, and data centers by 14%, potentially affecting the viability of maintaining these activities in the country.

ANDE issued the power fee raise on June 26, describing the increases for each high power consumption group on Resolution 49238. The backlash from industry insiders and pro-bitcoin groups was immediate, with politicians and elected senators criticizing this action.

Senator Salyn Buzarquis blasted the measure, assessing that it communicated an internal identity and contradiction problem in the Paraguayan government, potentially affecting future investments in the field. Buzarquis stressed that this action was unfair, given that these companies have already invested a humongous capital in Paraguay.

Bolivia has recently completed a change of stance regarding cryptocurrency, reverting a blanket ban on the use of these assets in the country’s financial system. Edwin Rojas Ulo, President of the Central Bank of Bolivia, referred to the possibilities that the introduction of bitcoin (BTC) and cryptocurrencies would bring the Bolivian payments system.

In statements reported in official media, Rojas Ulo declared that the decentralization of these assets would “favor commercial and private activities for the purchase of services and, of course, satisfy different needs.” However, he recognized that some assets, like bitcoin, can be used as investment tools to gain a yield, but its volatility can act against the user.

Rojas Ulo also referred to stablecoins, tokens whose value is pegged to the value of another asset or foreign currency. He explained that dollar-pegged stablecoins like USDT, present different advantages to users that lack access to U.S. dollars.

Mexican Startup Kavak Issues Tokenized Debt to Invest in Brazil’s Used Car Business

Tokenized debt offerings are becoming a reality in Brazil. Kavak, a Mexico-based used car market-focused startup, has issued debt for almost $1 million using tokenized notes to obtain liquidity and working capital in Brazil. The offering, which was intermediate by Liqi, one of the largest token issuers in the country, is guaranteed by the cars that Kavak has in stock and will yield a benefit of 5.5% APY with a 12-month duration.

This first tokenized debt offering was distributed to a series of professional investors and private funds, but the remaining tokens will be offered publicly, following the rules established by the CVM, the Brazilian securities watchdog. Kavak’s goal is to issue up to $5 million to finance its operations in Brazil.

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