Venezuelans living in state-owned apartments have been prohibited from mining cryptocurrencies. As part of an earlier decision to conserve the use of electricity, the government had taken this stand earlier, when they cautioned Venezuelans against buying crypto machinery, especially those living in government residences.
As per the announcement, the housing minister Ildemaro Villarroel reiterated the government's earlier decision on crypto mining, which had been communicated to residents of the government's housing scheme. After consultation with the Ministry of Electric Energy, the government had informed occupants to desist from mining crypto in the government provided houses or even buy crypto mining equipment.
This pronouncement is to promote the Venezuela Great Mission Housing plan, an initiative of the Hugo Chávez organization in 2011, which was set up to give lodging to families living in problematic conditions. Villarroel also stated that the discussion had been taken related to the Ministry of Electric Energy, and discussed the "negative impacts" crypto mining has had "on power request and utilization in [state-built] urban settlement."
The government's statement does not, in any way, mean that Venezuela, as a country, does not support cryptocurrency mining. Crypto mining by individuals living in a private residence is still legal in Venezuela. Today, the country is one of the top countries with high electricity usage from the crypto mining-related activities, according to data from the University of Cambridge.
Source: Cryptonews
