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According to www.criptonoticias.com, a Latin America cryptocurrency news source, Venezuela will start regulating the people of Venezuela who own or operate cryptocurrency miners. Still unknown at this time is the rate of tax that will be applied to all miners.


The Plan

The Venezuelan Minister of Higher Education, Science and Technology, Hugbel Roa , and the Superintendent of the Venezuelan Cryptocurrency, Carlos Vargas , announced that from December 22 forward a unique database of the active cryptocurrency miners will be created. The country will create a website for all crypto miners to sign up on. Carlos Vargas, Superintendent of the Venezuelan Cryptocurrency , said

We can inform the country that we are heading towards the start of a single record of the digital mining activity in the country. From next December 22 will be available on the website that we are building Blockchain Observatory the possibility of a registry for all those who are exercising digital mining in Venezuela. We want to know who they are, we want to know where they are, we want to know what equipment they are using. We want to move towards the regularization of digital mining in Venezuela. (translated)



This isn’t the first time the Venezuelan government got involved in cryptocurrencies

En Lara localizan en un galpón 21 máquinas de Bitcoin

On the 13th of December 2017, Venezuelan authorities performed a raid on an empty house where they confiscated 21 bitcoin miners/machines. This isn’t the first raid, and won’t be the last raid according to Venezuelan miners. The government has had a long history of taking legal action against cryptocurrency miners within their country and this Blockchain Observatory will only increase their stance against cryptocurrencies.

Earlier in January 4 people were arrested and charged with electricity theft and internet fraud.


Only time will tell what will happen in Venezuela, but it looks like cryptocurrencies are not as easy to use for Venezuelans as they used to be.


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