VENEZUELA

The National Superintendency of Cryptoassets and Related Activities (Sunacrip, in Spanish) on September 24 published a regulation on digital mining. The initiative establishes provisions governing the granting and renewal of operating licenses for digital mining farms and also creates a national digital mining pool. The measure is already in force.

Digital mining involves issuing new cryptoassets and performing transactions as part of a blockchain network. In this sense, Sunacrip will award operation licenses to natural and legal persons providing digital cloud mining services. The regulation also creates an Integral Miner Registry, a web application made available by Sunacrip to users to process operation licenses. 

A National Digital Mining Pool has also been formed, which seeks to bring together Venezuelan digital miners and those from other countries to promote the issue of cryptoassets. Sunacrip will be able to grant benefits and exemptions to encourage participation in the pool.