Venezuelan Authorities Ban Cryptocurrency Mining
Venezuelan authorities have announced a complete ban on cryptocurrency mining, citing serious problems with electricity supply caused by overloads at substations. The governor of Carabobo state has urged residents to report mining activities to prevent grid failures.
Anti-Corruption Campaign Targets High-Ranking Officials
Several high-ranking officials, including the former head of the National Cryptoassets Management, have been arrested in connection with corrupt activities related to illegal oil deals. The Attorney General stated that these officials were involved in corrupt activities.
Future Changes in Cryptocurrency Policy
The president of the Venezuelan Cryptobusiness Association Cavemcrip announced plans to lift restrictions on digital currency operations starting in 2024. This raises questions about future changes in Venezuela’s cryptocurrency policy, despite the current ban on mining.
