Key facts:
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The framework that regulates Mining activity has several legal aspects.
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The farm was located in the state of Guárico, in the plains region of Venezuela.
Members of the Bolivarian National Armed Forces (FANB) raided a Bitcoin mining farm located in Guárico, in the plains region of Venezuela. According to the report of the operational strategic commander of the FANB, Domingo Hernández Lárez, they did not have permits and licenses for their operation.
In total, it is confiscated 35 digital asset mining devices, 30 extractors, two electric fans and one double electric fan.
The operation is part of the actions to disconnect farms from Bitcoin mining that are fed by the National Electric System (SEN).
As reported by CriptoNoticias, the government of Nicolás Maduro drives This initiative is based on the argument that these spaces are responsible for the recurring power outages that have plagued the population for several years.
According to the Ministry of Electric Energy, the disconnection “will avoid a high impact on demand, which will allow us to continue offering an efficient and reliable service to all Venezuelan people.”
🔁 RT || GJ. @dhernandezlarez: Members of the #FANB Together with officials from the Public Ministry, they carried out a search warrant at a home located on San José Street, El Mirador sector, Juan Germán Roscio Nieves municipality, Guárico state, according to document No. 9562024, of… pic.twitter.com/zNd3UTwt9A
— CEOFANB (@CEOFANBVE) September 8, 2024
But in addition to the government’s ban, in Venezuela it also happens that the regulatory body of the Bitcoin mining sector, the Superintendency of Cryptoassets of Venezuela (Sunacrip), has been absent for more than a year. This, for having participated in a multi-million dollar scheme of corruption government called Pdvsa-Crypto.
This restructuring process was supposed to last six months, but it continues today. headless and there is currently a regulatory limbo that does not establish, among other things, if Bitcoin miners operate without being connected to the national electrical system can maintain their operations.
What did Maduro say?
On August 31, Nicolás Maduro kept a meeting with representatives of the Venezuelan banking sector, indicating that The Cryptocurrency industry is back on the political agenda.
However, he did not elaborate on what “getting back on the path of crypto” means. He also did not state whether there is a planned date for the restructuring of Sunacrip or whether the country’s miners can operate normally again.
Same situation as in Paraguay
Since these operations began, the Venezuelan Government has already seized more than 10,000 ASICs (Application Specific Integrated Circuits), the same number as in Paraguay.
In that South American country too There is uncertainty about what will happen with large mining investments.
As CriptoNoticias has reported, Paraguay’s great energy potential became the greatest incentive so that the miners of Bitcoin migrate to that country. However, this year, everything has been taking a radical turn with digital mining, especially since the authorities While more and more Bitcoin mining farms are being raided, a law has also been approved to penalize mining activity with up to 10 years in prison.
Meanwhile, the National Electricity Administration (ANDE) increased electricity rates for special consumers, including Bitcoin miners operating legally, by up to 16%. As a result, more than 50 Bitcoin mining companies have considered migration as a possibility for survival.
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