The police seized 17 Bitcoin mining machines in the west of the city of Caracas. In the last week, the authorities of the South American country have confiscated 45 devices to extract cryptocurrencies.
Venezuela’s Bolivarian National Police (PNB) recently seized 17 Bitcoin mining machines in La Pastora, the west of Caracas, Venezuela.
Hung Elizabeth, a woman aged 9, went to prison for alleged smuggling. Through their Instagram account, the police agency reported that that was the reason why they were investigating her.
They added that they would continue the investigation to determine possible links with organized groups dedicated to such criminal practices. However, they did not specify where the contraband had come from or whether the mining equipment was part of it. The Venezuelan Public Ministry must decide what will happen to the evidence and the prisoner.
The seizure of cryptocurrency mining equipment is becoming increasingly frequent in Venezuela. In the last week, the police have seized 45 Bitcoin mining machines, as they confiscated another 28 in Lara, the west of the country.
A group of police officers raided a warehouse that was illegally processing toxic material. Therefore, what began as an operation for environmental crimes, turned into the seizure of many Bitcoin miners.
The Authorities Continue to Seize Bitcoin Mining Equipment
In July, the police seized more than 500 Bitcoin mining devices. That number has exceeded 1,200 units this year. There is a lot of acceptance of the pioneering cryptocurrency in Venezuela, which is among the seven countries with the highest adoption.
A geographic report on cryptocurrencies from the firm Application Specific Integrated Circuits reflects the change of position of the country. Although Venezuela ranks seventh in global adoption, it is sixth in terms of P2P trading volumes. It is two places behind the second position that it occupied in 2020.
In addition, the government decreed the mining of Bitcoin and other cryptocurrencies as an activity that benefits the country economically. The National Superintendency of Crypto Assets (Sunacrip) and the National Electric Corporation of Venezuela (Corpoelec) agreed to establish the parameters to develop the activity in the country.
However, there has been an apparent lack of coordination between the governing body for mining-related activities and other public institutions such as Corpoelec.
The authorities have even gone so far as to disconnect mining farms that Sunacrip has allowed to operate. However, the governing body promised miners of Bitcoin and other cryptocurrencies that no one would visit them unless their staff is present.
The seizures of mining equipment and the arrests of people dedicated to the activity also persist for not complying with the corresponding regulations. There was an operation in Portuguesa state, to the west of the country, during which some military officers confiscated 332 Bitcoin mining machines.
The growing importance of Bitcoin and other cryptocurrencies has led many people to get into the mining business. The use of those assets has also allowed some Venezuelans living abroad to send remittances to their relatives.
By Alexander Salazar
