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Venezuela Supreme Court: Btc Miners Must Comply With Certain Conditions to Operate in the Country

By WebsCryptoMarch 13, 20221 Min Read
Venezuela Supreme Court: Btc Miners Must Comply With Certain Conditions to Operate in the Country
Product image courtesy of Coinoshi
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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 BTC -1.58% miners must comply with certain conditions in order to operate on Venezuelan soil these activities.

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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.”

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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