Paraguay is requiring all bitcoin transactions over $5,000 to be reported to the government. The country's tax authority just issued Resolution 47/26, mandating disclosure of wallet addresses, transaction hashes, and network details for every qualifying transaction. It covers purchases, sales, mining, staking, airdrops, lending, payments, and even transfers between your own wallets. Exchanges are required to hand over user data. Paraguay was one of the most Bitcoin-friendly countries in Latin America. Cheap hydroelectric energy, light regulation, a growing mining community. That's changing fast. No new taxes yet. But this is exactly how financial surveillance starts. You build the reporting infrastructure first, then the taxes come later. Every time. The justification is "FATF compliance" and "transparency." The same language every government uses before it tightens the screws. This is the playbook. Country welcomes bitcoin when it needs the investment. Then once the infrastructure is built, the reporting requirements show up.