#CryptoRegulation In Venezuela, there is a regulatory framework for crypto assets that promotes and guarantees their use. The National Superintendency of Crypto Assets and Related Activities (SUNACRIP) was created to regulate the creation, issuance, operation, and use of crypto assets. The Constituent Decree on the Comprehensive Crypto Asset System establishes rules for its functioning, including the regulation of Bitcoin mining, which is legal in Venezuela.

The regulatory framework includes:

Constituent Decree on the Comprehensive Crypto Asset System:

Defines the general rules for the creation, issuance, organization, operation, and use of crypto assets.

SUNACRIP:

It is the regulatory body responsible for supervising and controlling the activity of crypto assets, including mining.

Regulations for mining:

Activities related to the importation, marketing, and use of mining equipment are regulated, including cloud mining, according to provision 084-2020.

Regulations for exchange houses:

General conditions are established for the operation of exchange houses within the comprehensive crypto asset system, according to an unpublished regulation.

Regulations for virtual asset service providers:

Rules are set for the administration and supervision of risks related to money laundering, financing of terrorism, and the proliferation of weapons of mass destruction, according to provision 044-2021.