• Regulation of cryptocurrency in Venezuela.


    The law contains sixty-three sections that provide for absolutely any actions with digital assets, including mining. As it became known from the coinspot.io government publication, legislation updates were drafted in order to integrate cryptocurrency space into existing legislation as accurately and as reasonably as possible, and to create a favorable atmosphere for the development of the industry and protection from fraudulent schemes in Venezuela with new rules.

    As a regulator of Sunacrip, additional legal powers were imputed, which now cover the mining industry in the country and everything connected with it. To start any activity with digital assets, both individuals and structures, it is necessary to register. The main goal of such decisions is to ensure maximum legality of the cryptoindustry activity. Measures of influence on violators will be tough enough, but, according to the government, fair. Do not forget the fact that the future of its people will depend on what legal field will be created in this small Latin American republic.
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