The ruling issued by Venezuela’s Supreme Court recognizes the strategic role played by the state cryptocurrency regulator Sunacrip as the organization that controls mining operations.
The judgment reverses some decisions made in previous judgments, in which another court ordered Sunacrip to return more than 1,000 miners seized in November to its owners, and also announced that bitcoin miners must comply with certain conditions in order to operate on Venezuelan soil these activities.
According to Criptolawyer, a Venezuelan cryptocurrency-related lawyer, “The Political-Executive Council warns (if we doubt it) that the activities carried out by Sunacrip are of a national strategic nature (supervision, authorization, inspection of cryptoasset systems), and therefore those who intend to commit to Those involved in digital mining must comply with the registration with RISEC and RIM in Venezuela.”