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Crypto mining activities are now regulated by the Venezuelan gov

Published 09/23/2020, 04:15 PM
Updated 09/23/2020, 06:00 PM
Crypto mining activities are now regulated by the Venezuelan gov

Crypto mining activities are now regulated by the Venezuelan gov

Venezuela's National Superintendency of Crypto Assets and Related Activities, or SUNACRIP, has issued the first decree to officially regulate all crypto mining activities. In order to qualify, miners will need to meet specific requirements.

An official announcement was first published in the Gaceta Oficial and signed by the head of the SUNACRIP, Joselit Ramirez. It stated that residents in Venezuela who are interested in mining Bitcoin (BTC) and other cryptocurrencies must request a license and join the so-called "national pool.”

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