Due to hyperinflation and financial crysis, cryptocurrency and mining had become very popular in Venezuela. And as we all know, when cryptocurrency becomes popular in any country, governments always try to regulate, as they see it. Venezuela is not an exception.
The Venezuelan government is working on the legal framework to tax and regulate cryptocurrency mining. As a first step, it is trying to create a detailed registry of the country's miners. Carlos Vargas, recently appointed as the first "superintendent of Venezuelan cryptocurrency" by President Nicolás Maduro, announced the plan at a press conference on Tuesday. This is reported by the Crypto Noticias.
We want to know who they are, we want to know where they are, we want to know what equipment they are using.
Additionally, Venezuelan police have continued arresting cryptocurrency miners.
On December 9, a police team raided a warehouse in the city of Barquisimeto, seizing 21 mining computers and arresting 31-year-old Daniel Andrés Di Bartolomeo Viloria. He was accused of money laundering, illicit enrichment, computer crimes, financing terrorism, exchange fraud, and damage to the national electric system.
Digital currency is not endorsed by any banking institution in the world nor has it been approved by any country. The currency is being marketed with legal appearance but in essence it operates in secret.
Venezuelan Police Statement
Proponents of the new registry say it will create a way for bitcoin miners to operate with legal protections.