Lawyers: “Venezuela’s Bitcoin Mining Overcomes Stigma That Hurt It”


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Bitcoin mining is changing in Venezuela, or so according to Paulette Nunes, José Angel Mogollón and Samuel Nunes, a trio of cryptocurrency specialists at the Nonza Legal Desk.

all three are authors of the first Legal Guide on the use of cryptocurrencies in Venezuela. Titled Imperium Monetae, the book “makes a significant contribution to the cryptocurrency asset ecosystem in the country because knowing A, B, C bitcoin mining and laws, the stigma that has long surrounded the activity is reduced,” says Paulette.

The group spoke exclusively to CriptoNoticias during the event Monaco innovation took place on December 8 and 9 in the eastern part of the country, where they participated as speakers.

From the legal trio’s perspective, a population ignorant of technological advances tends to reinforce existing prejudices about development and science. So, for this reason, cryptocurrencies are often associated with money laundering and when that happens, obstacles are raised that prevent taking up or developing related activities.


“But things have started to change in the country since the regulation was passed,” commented Samuel Nunes.

“But it wasn’t an easy process and it didn’t happen overnight,” added Paulette. This is because even with regulation confiscation of mining equipmentin some cases violates constitutional rights.

Due to ignorance, not knowing what they are talking about, the police and then the judicial authorities have linked the generation of new cryptoactive substances from Bitcoin mining to money laundering, which is not the case.

Paulette Nunes, Venezuelan lawyer specializing in cryptocurrency.

Fewer barriers to Bitcoin mining in Venezuela

Paulette adds that, on the other hand, much of the Bitcoin mining equipment entering Venezuela has been classified as contraband. This is because there was no regulatory framework for the importation of these devices established by the National Integrated Customs and Excise Administration Service (Senate).

It so happened that the country did not set the rules for the import of equipment, which was very new. It was something like 1950, when we had cellular equipment scales, when nobody knew what cellular equipment was. But little by little, things were changing as security agencies began to understand more about everything related to the ecosystem.

Paulette Nunes, Venezuelan lawyer specializing in cryptocurrency.

For legal counsel, the Bitcoin Miners’ Union in Venezuela was critical to driving change. They [los mineros] they created a united front to respond to the danger they faced.

From a legal point of view digital mining is a legal activity that we all have a right to as Venezuelansso there’s a threat of someone blocking it, even if it’s security officials,” Paulette said.

Clear Bitcoin Mining Rules

After José Ángel Mogollón passed the founding decree on Bitcoin, things really started to change Integral System of Cryptoactives approved in Venezuela Two years ago.

This ruling made it a crime not to target a miner, but a security official who obstructed or prevented the proper functioning of cryptocurrency-related activities. This is done without the authorization or accompaniment of the National Cryptoactive Substances Regulatory Authority (Sunacrip).

If they do so, security agents or officials can be punished with imprisonment of up to five years, which is even the most severe penalty in the decree. This clearly shows that there was a serious problem and the legislature had to impose this sanction on the officials because the matter got out of hand.

José Ángel Mogollón, lawyer for the Cripto Nonza group.

Mogollón believes in it regulation is central to the development of Bitcoin mining in Venezuelabecause it sets clear rules and makes it clear what can be done or allowed in the country.

ABC on the use of cryptocurrencies in Venezuela

For this reason, a group of lawyers decided to create a guide on the regulation of the use of cryptocurrencies in Venezuela. The text is specifically aimed at the country’s lawyers, but they address the issues by providing specific explanations and using simple language to make it easier for the general public to understand, without needing to have knowledge of the ecosystem, Mogollón explained.

The authors say they collaborated with Venezuelan economist Samuel Gómez and Rajiv Mosqueda, National Intendant of Digital Mining at Sunacrip.

The guide explains how Sunacrip is made, what this body is, what it does, what it can do, and what its powers are. Then it has registrations, licenses and all that the steps a user needs to take depending on how they want to interact with cryptocurrencies.

The book provides procedures that miners or users can take if they are not satisfied with any decision made by Sunacrip in a particular case. This means that we show you how to deal with an administrative act that may have violated your rights.

José Angel Mogollón, lawyer of the group Cripto Nonza.

The trio of lawyers said their handbook also outlines what crimes can be committed using cryptocurrency, and the criminal aspects are done and detailed. “Also, we include didactic graphics to explain everything,” said Mogoglón.

The guide is currently available in various bookstores in Caracas, the capital of Venezuela, and can also be ordered through grupocriptononza’s social networks.


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