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Venezuelan President Nicolas Maduro overhauled the central bank's board after it resisted a plan to include uncertified gold in the nation's international reserves....
Venezuela Bans Crypto-Mining To Protect Power-Grid
Authored by Amaka Nwaokocha via CoinTelegraph.com,
The Venezuelan government has joined the list of countries that have frowned on crypto mining due to its hefty electricity demands.
According to a local news outlet, Venezuela's Ministry of Electric Power has unveiled plans to disconnect cryptocurrency mining farms from the national grid. The move aims to regulate excessive energy consumption and guarantee a stable power supply for the population.
An X post from Venezuela's National Association of Cryptocurrencies stated that crypto mining is prohibited in Venezuela.
This move follows a recent crackdown involving the confiscation of 2,000 cryptocurrency mining devices in the city of Maracay as part of an anti-corruption initiative.
Source: Asociación Nacional de Criptomonedas
The ministry emphasized the need to offer efficient and reliable electrical service across Venezuela by eliminating the strain caused by these high-energy-consumi...