Crypto-asset regulation and tokenization in Paraguay

In Paraguay, a cryptoasset service business must distinguish preventive registration, tax information and securities authorization. Meeting one obligation does not automatically establish the others.

Securities law includes representation through distributed records, making instrument classification especially important. A token containing investment rights requires offering and documentation analysis; a cryptoasset platform must also identify its own duties.

How to coordinate registration, tokenized securities and tax information

Paraguay combines preventive duties for virtual asset service providers, VASPs, with tax and securities legislation. VASPs are obliged persons under Article 13(v) of Law 1015/1997, as amended by Law 6960/2022. SEPRELAD Resolution 88/2023 identifies covered activities including mining, exchange, transfer, storage and administration. Registration serves money-laundering prevention; it does not itself authorize raising funds, offering securities or carrying on any financial activity.

Law 7572/2025 on Securities and Products Markets entered into force the day after publication on 7 November 2025. Article 329 repealed, among others, Laws 5810/2017 and 7162/2023. Article 328 preserves compatible earlier implementing rules until amended or replaced. Both the new law and product-specific implementing provisions must therefore be assessed. As of 15 October 2026, four 2024 bills on crypto-assets and crypto-mining remain at the first-chamber stage in Congress and have not been passed, including a Senate bill proposing a temporary ban on these activities; most committee reports recommend rejection.

Which authority supervises each activity

The Secretariat for the Prevention of Money or Property Laundering, SEPRELAD, administers registration and supervises covered persons' preventive duties. Its regulatory catalog identifies the virtual asset regulation and registration procedure. Preventive registration and tax administration serve different responsibilities; their certificates should not be used interchangeably.

The Central Bank of Paraguay, BCP, applies Law 7572/2025 through the Securities Superintendence. The Securities Superintendence exercises sectoral supervision within the BCP structure. The National Tax Revenue Directorate, DNIT, establishes the crypto-asset information return under General Resolution 47/2026. Tax reporting replaces neither securities oversight nor preventive controls.

Which permission the business model requires

Resolution 88/2023 establishes registration through the Integrated Operations Reporting System, SIRO, for covered persons. Its Articles 4 and 6 set 30 June 2023 as the deadline for updating earlier registrations and revoked, from 1 July 2023, registration certificates issued before it took effect; that regularization is not a current application window for new operators. Current registration and entity details must be verified without treating a historical certificate as a general financial authorization.

Where a model enters the securities market, Article 15 of Law 7572/2025 reserves to the BCP, acting through the Securities Superintendence, the authorization of operations subject to the law and refers to implementing regulations for the requirements applicable to participants, securities registration and authorization of public offerings. Article 71 defines a public offering as one directed to the public at large or to certain sectors or specific groups of it, and allows implementing regulations to determine which offerings do not constitute one, based on the number and type of investors, the means used and the amount. Invitation-only access does not itself establish that an issuance falls outside the framework.

Article 74 permits authorization of specified local issuances by foreign entities registered in recognized regulated markets, subject to statutory and implementing requirements. This power does not automatically admit every foreign exchange. Territorial structure and service must be assessed separately from customers' nationality or the technical location of servers.

How holder rights are documented

Article 73 of Law 7572/2025 defines securities as instruments that represent credit, ownership, participation or subscription rights, or are linked to monetary payments, and can be traded or transferred, and adds that securities issued, registered, transferred or stored through distributed ledger technologies or similar technologies are also securities. The BCP Board may issue complementary rules to specify, broaden or restrict that scope; none was identified in the sources consulted. The law expressly recognizes this form of representation, but does not by itself approve any infrastructure, and each token requires analysis of the right it represents.

An issuance must specify who owes the performance, how the right is documented and which formalities enable enforcement or transfer. A token may represent a claim against an issuer without establishing ownership of underlying property. The platform's preventive registration and tax declaration do not resolve that issue or replace instrument and offering documentation.

Which obligations continue during operations

SEPRELAD Regulation 314/2021 develops a risk-based preventive system for natural and legal persons established or domiciled in Paraguay conducting covered activities. A project must identify the organizational, diligence, control and reporting duties applicable to its model. This preventive framework establishes neither prudential authorization nor a state guarantee for assets held in custody.

Article 3 of DNIT Resolution 47/2026 distinguishes persons responsible for platforms operating in Paraguay from residents or local entities exceeding USD 5,000 annually through foreign platforms or without a platform. The threshold belongs to the second category; it does not extend to all platforms. The tax definition excludes instruments regulated under securities legislation.

The declaration is filed through Marangatu in the third month following year-end. It covers tax year 2026 for December closings and from 2027 for April or June closings. It requires transaction identification, counterparties or available addresses, quantities and values, among other information. Vouga Abogados examines these requirements; the information duty does not itself establish an exemption or a new general tax.

What to prepare before launching the project

Classify the operator, assets and customers separately. Link SEPRELAD registration to preventive controls and the securities file to the relevant rights, offering and participants.

Design DNIT declaration data into operations: reporting year, parties, addresses, quantities and valuation. Apply the threshold only to its statutory case and check whether securities treatment excludes the instrument.

Each operation still requires verification of permissions actually granted, instrument rules and enforceability of represented rights. The index separates preventive registration, statutory DLT securities recognition and authorized infrastructure. It establishes no international passport and does not present historical registration counts as current data.

To understand how this framework applies to your project, discuss your case with our team.