A South American country is including Bitcoin in its economic development plans

Paraguay is developing systematic strategies to capitalize on its excess hydropower, channeling it into Bitcoin mining.

This coincides with the South American nation's larger economic goals. Itaipu Dam, one of the world's largest hydroelectric plants, generates more energy than the country's domestic demand, and 80% of the energy produced is not used locally. Paraguay aims to use this surplus to attract foreign investment and bolster its coffers.

Paraguay's low electricity costs are attracting global attention and making the country an important region for the mining industry. Bitcoin . The intention to profit from surplus hydropower is indicative of a smart approach to sustainability and an investment in future socio-economic stability.

But this one stroke was coupled with talk of tighter regulation of the sector. Paraguay's National Congress proposed a six-month suspension of BTC mining, while cryptocurrency storage and trading were also restricted earlier this year. The purpose of the proposal is to prevent illegal mining activities and eliminate the risks arising from virtual assets.

Paraguay seems to be using this dual strategy of investing in Bitcoin miners while also developing a regulatory framework, which is indicative of a balanced approach to economic development.

To attract the right kind of operations and foreign investment, Paraguay has chosen to introduce a regulatory framework for all businesses in the industry to improve investor confidence and establish the country as an extremely cheap and sustainable Bitcoin mining destination.