Venezuela regulator will begin to tightly control mining in the country

According to the new law, Cryptoactivity management and related operations (Sunacrip) will regulate all types of mining activities in Venezuela.

Despite, that mining in Venezuela is allowed, the country's authorities intend to make it more centralized. Now the production of ASIC miners, Construction of mining farms, The import of equipment and the distribution of remuneration among cryptocurrency miners will be controlled by regulators. Besides, The new law obliges all miners to become participants in the national pool, So that the government can control all aspects of their activities.

Venezuela's authorities said, that mining bitcoin creates the conditions for speculation with the US dollar and helps to evade financial control. To prevent these risks, The authorities created a register of miners (RIM), in which all miners will be required to register, Mining farms and manufacturers of equipment. Persons or organizations, working in the mining industry and not registered in the registry, A large fine will be threatened.

Cryptocurrency entrepreneurs are afraid, that the disclosure of information about their activities and income can attract the attention of attackers and corrupt officials. Miners think, that the government attempts to centralize the production of cryptocurrencies contradict the philosophy of bitcoin. If the authorities begin to control mining, They will be able to levy taxes from miners, freeze and delay payments.

At least, Control by regulators is better, What is the ban on mining. Two years ago, international carriers were forbidden to import any equipment for the extraction of crypto assets into Venezuela, Despite the active development of digital currencies in the country.

Recall, that this month the P2P PAXFUL P2P Platform stopped serving users from Venezuela due to US sanctions. Besides, Venezuela residents were blocked by access to the American trading platform Coinbase.