Venezuela Will Regulate Bitcoin Mining

Venezuela government has announced that by the 22nd of December, there will be created a registry of bitcoin miners to regulate bitcoin mining in the country. This registry will be the first step in the developing of a comprehensive legislation on cryptocurrency – all operations connected with cryptocurrency.
The authorities insist that this shall protect the miners, though proponents argue this statement.
Cryptocurrency mining has become very popular within the last months, when the national currency started collapsing and the country plunged in deep crisis. Cryptocurrency becomes very popular in crisis economy, as it offers the stability which the national currency isn’t able to offer.
Cryptocurrency isn’t illegal in Venezuela, as well as mining. But during last months, authorities started arresting miners for electricity theft, cyber-crime – any possible reasons. Authorities claim, that all they want is just to know who the miners are, what equipment they are using, where they work. What it will lead to, time will show.

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