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. He continued:
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