Venezuelan Military Seizes 35 Bitcoin Mining Machines in Guárico State

11 Sept

Venezuela’s Bolivarian National Armed Forces (FANB), in coordination with the Public Ministry, conducted a raid that resulted in the seizure of 35 cryptocurrency mining machines and other equipment. The operation took place at a residence in the El Mirador sector of Juan Germán Roscio Nieves municipality, Guárico state, under a search warrant issued by the 3rd Control Court of San Juan de los Morros on September 6, 2024.

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According to a statement by FANB Commander Domingo Hernández Lárez on social media, the seized equipment included 35 mining machines, 30 extractors, two electric fans, a double electric fan, and two vehicles—a red Chevrolet and a white Jeep. The confiscation was carried out because the operators of the equipment lacked the necessary permits and licenses required for their use under Venezuelan law.

Commander Hernández Lárez emphasized that Venezuela is a "democratic state of law and justice," with a legal framework that governs virtual mining activities and requires miners to be registered with the government. He further stated that the operation was conducted under the oversight of the Public Prosecutor's Office, reiterating that the nation's laws must be followed.

This seizure highlights Venezuela's ongoing regulation of bitcoin mining, an industry that has grown significantly in the country due to its abundant energy resources and the economic crisis that has driven citizens toward alternative forms of income. However, the lack of proper permits and regulatory compliance has led to increasing scrutiny by authorities.

In response to the raid, Venezuelan national Gabriel Quintero (@gaqr22_) expressed scepticism, criticizing the government's portrayal of law and order in the country.

Quintero remarked, "As if it were not up to you to make people believe that there is some 'rule of law,' but the truth is that no one steals, kidnaps, appropriates or does anything without you knowing or giving your approval. If you have to remember that there is democracy in Venezuela, it is because there isn't one."

Quintero's comment reflects the broader debate in Venezuela regarding the state of governance and democracy, with some citizens questioning the transparency and fairness of government actions.

The seized equipment is now under the custody of the Public Prosecutor’s Office, and further legal actions are expected as authorities continue to enforce the country's regulations on bitcoin mining.

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