On May 30th, the Venezuelan government published the Official Gazette No. 41.408 which allows Bitmain Technologies and the CriptoSoft Corporation to import electronic equipment into Venezuela for cryptocurrency mining.

Previously, the entry of mining equipment into the country had been prohibited, and
companies interested in using crypto-specialized hardware would have to go through a rigorous evaluation process.

You can see what’s related to this here: https://www.cryptoworldjournal.com/venezuelacryptocurrency-mining

The authorization granted by the Superintendent of Cryptocurrency and Related Activities of Venezuela (the current agency controlled by the Vice President and responsible for the supervision and regulation of activities related to cryptocurrency), to the companies mentioned above is detailed. It authorizes the impor of Bitmain brand mining machines, in all models including power sources, as well as motherboards, graphic memory and storage
drives specialized for mining. Also, the Superintendent may revoke the authorization itself, if a company fails to comply with the established obligations, the customs regulations, or when the conditions under which the authorization was approved are modified.

In essence, the prohibition of importing equipment to mine crytpocurrencies in the country is still valid until those who need to bring this equipment have the respective approval by the Superintendent, and compliance with all legal requirements.


by Samuel Paz


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