Illegal Bitcoin Mining Machines have been Confiscated by Venezuelan Authorities

News • 2020/07/08 • by Remitano

There are 315 Bitcoin mining machines in Venezuela that are being confiscated by Venezuelan authorities. All of the mining machines were manufactured by Bitmain. It is reported that these miners did not have the permits to operate these mining machines. They were also charged for the violation of the new coronavirus law that prohibits people from transporting machines during the curfew period.

Venezuelans who want to mine Bitcoin with their mining rigs are allowed to do so as long as they receive permits from an entity in the Venezuelan government that’s named National Superintendence of Cryptoactives. The thing is that many Venezuelans don’t really trust the government anymore and there are plenty of them who just try to mine Bitcoin illegally.

In recent years, crypto usage in Venezuela has been gradually increasing. There are plenty of Venezuelans who never really paid attention to crypto technology but they got attracted to crypto due to the failing of their local fiat currency. Venezuelans who live in neighbouring countries like Colombia also use cryptocurrencies to send money back home to their families. DASH and BTC are among the most popular cryptocurrencies.

Source: CoinTelegraph

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