Cryptocurrency Miners Import Is Restricted In Venezuela

As per local reports, Venezuelan customs now confiscate mining equipment, including miners, graphics cards and computers, which arrive by sea, air and land. This rule came into force immediately.

To avoid any unexpected setbacks for customers, the country’s largest shipping companies have updated their websites with a new rule prohibiting miners from entering the South American nation.

A shipping giant Liberty Express which until recent times sent miners into the country, noted that mining equipment can never again enter the country, and recommended customers not to attempt to ship items, otherwise they will end up with a loss.

Although it is recorded that companies such as DHL, Domesa, and LearExpress have not introduced mining equipment on their list of forbidden products yet, reports state that customers have been individually warned to escape any troubles.

As it can be noticed, Venezuelan President Nicolás Maduro has claimed that the country is an initiator in the digital currency ecosystem and expressed Venezuela’s cryptocurrency move in global summits after the start of inconsistent government-supported cryptocurrency, the petro.

Nevertheless, the statements are not credible, as there have been several violations in the country’s work with cryptocurrencies locally, especially in making it difficult for citizens to access digital currencies. Before the ban, cryptocurrency mining was a means of generating income for several citizens who are coping with the economic crisis of the country.

AT the beginning of  April 2018, Angel Alvarez, president of the National Association of Cryptocurrencies (Asonacrip), informed local news that the country was in the process of introducing measures that pertain to cryptocurrency mining, reporting at the time that the nation was evaluating import laws for “digital mining equipment.”