Venezuelan Government Now Licensing Crypto Mining

 Mining activities for all cryptocurrencies in Venezuela have been licensed and managed under the responsibility of the National Superintendency of Crypto Assets and Related Activities (SUNACRIP) Venezuela.


The announcement was issued by Gaceta Official and signed by the head of SUNACRIP, Joselit Ramirez.


To obtain the license, the miner (miner) must meet special conditions. Meanwhile, Venezuelans who are interested in mining Bitcoin (BTC) and other cryptocurrencies are required to immediately apply for a license and join the "national pool" managed by the body.


The license can be applied for through the Comprehensive Registry of Services in Cryptoassets (RISEC), a system run by SUNACRIP.


Any mining activity registered must be explained in detail whether it also involves trading activities, importing, or using mining software.



In addition, SUNACRIP will also offer various incentives, including tax exemption to attract miners to join the national pool.


However, for those who are not interested in getting involved, they may be subject to the restrictions of the Comprehensive Crypto Asset System.


Although Venezuela is famous for its crypto mining population, governments often do not take sides in such activities. Instead, they are only responsible for the issuance of licenses for those who are interested in developing ASIC mining software.