News

Venezuela Legalizes Crypto Mining, With Some Big Restrictions

Venezuela Legalizes Crypto Mining, With Some Big Restrictions

Local news outlet Criptonoticias on September 22 reported that the nation had legalized cryptocurrency mining, albeit with several caveats.

  • The regulation comes with several conditions, failing to adhere to these conditions could result in penalties
  • Local individuals or groups wishing to mine cryptocurrency must apply for a license and be listed on a government register
  • Most significantly, all mining will occur through National Digital Mining Pool, which gives authorities an undue amount of control over the mining rewards
  • Miners will have to keep a log their mining activity for 10 years
  • Mining equipment imports and manufacturing will also be monitored by authorities
  • Manufacturers and mining data centers must apply for licenses

How do you rate this article?

18



News
News

Official Publish0x Crypto News Channel

Publish0x Publish0x

Reward the author with $0.01 in crypto, and earn yourself as you read!

20% to author / 80% to me.
Rewards are FREE. Publish0x pays them, not you.

Page not displaying correctly?