[2018-01-31]Venezuela:Mining is Perfectly Legal

[Aveatrex]

Venezuela’s government has said cryptocurrency mining is now “completely legal” as it plans the presale of its Petro coin for next month.

In comments during a TV address quoted by local news outlet TeleSur, the country’s newly-dubbed ‘cryptocurrency superintendent’ Carlos Vargas confirmed that citizens mining Bitcoin and other cryptocurrencies were not breaking the law.

Last year, Venezuela made headlines on several occasions after reports emerged that police were cracking down on mining operations, accusing those involved of sapping power from the national grid.

“It is an activity that is now perfectly legal,” Vargas announced in a dramatic U-turn.

Read more:https://cointelegraph.com/news/venezuela-says-crypto-mining-now-perfectly-legal-announces-petro-presale

[hatshepsut93]

Whenever any government warms up to cryptocurrencies, I always think that there's some catch, because cryptocurrencies are so disruptive and anti-government. It's especially suspicious when it's done by dictatorships like Belarus, Venezuela and Russia - maybe they just want crypto users to let their guard down, use cryptocurrencies openly and stop caring about privacy, while the government profiles them.

[RamonBTC]

It’s almost few months ago that I’ve heard this relatively related news about Venezuela on investing on cryptocurrency and building mining farms after the economic crisis they’re facing. Learning that the government subsidies the electricity cost and having no problem in that aspect. Mining would be a much better option for the bitcoin and altcoin enthusiast that might also help the Venezuelan government to recover and progress.