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Venezuela Legalizes Crypto Mining, Announces Regulatory Framework

2 mins
Updated by Ana Alexandre
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In Brief

  • Venezuela's government has announced a new regulatory framework for crypto mining in the country that legalizes it and brings it under government control.
  • Venezuela has traditionally adopted a hostile or ambiguous position toward crypto mining, even occasionally seizing mining equipment.
  • The new decree announced by SUNACRIP, the country's crypto regulator mandates all crypto miners in Venezuela to join a "National Digital Mining Pool."
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David Hundeyin
David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on 'The Other News,' Nigeria's answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary 'Larry Charles' Dangerous World of Comedy.' In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership...
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