The bill, introduced last July by Senator Fernando Silva Facetti and passed by Congress in May before reaching the Senate, calls for the creation of a Ministry of Industry and Commerce (MIC) to oversee crypto industry service providers. The bill is now one step away from being approved as law by President Mario Abdo Benitez.
A notice to Congress in May said the bill specifically deals with crypto mining, commercialization, mediation, exchange, transfer, custody, and/or administration of crypto assets or instruments that allow control over crypto assets.