In a recently issued sentence, the Supreme Tribunal of Justice of Venezuela stated that tasks created by Sunacrip (the national cryptocurrency and Bitcoin mining watchdog) have strategic importance for Venezuela. This sentence invalidates certain resolutions in cases where another court reversed the seizure more than 1000 bitcoin miners.
Sunacrip Role in Venezuela Supported in National Courts
Venezuela’s highest tribunal ruled that Sunacrip is strategic in its role as the country’s cryptocurrency watchdog. In addition to voiding some sentences from a previous sentence in which Sunacrip was ordered to return over 1,000 of the November seized miners to its owners in November, this sentence also stipulates that all bitcoin miners are required to follow certain conditions before they can develop their activities on Venezuelan territory.
According to the Venezuelan cryptocurrency-linked attorney Criptolawyer, who analyzed the sentence and sharedHer impressions on the subject via social media
The Political-Administrative Chamber warns (in case we doubted it) that the activities carried out by Sunacrip are of a national strategic nature (supervision, authorization, inspection of the crypto assets system) and therefore those who intend to dedicate themselves to digital mining in Venezuela must comply with registration at RISEC and RIM.
The RISEC, translated as the Comprehensive Registry of Cryptoactive Services, is defined in a providence issued by Sunacrip as having the objective to “digitally systematize the information of the users who use the (cryptocurrency) system.” The RIM, translated as the Comprehensive Mining Registry, is integrated by all the miners conducting mining activities legally on Venezuelan soil.
Make No Mistakes
This sentence corrects the sentence that was issued earlier regarding the seizure by the bitcoin miners. It also corrects a number of errors that were made, according to the judge. This sentence considers the following:
This clearly compromised the public interests and went beyond the individual interest of those involved. The possibility of threatening stability in the country is obvious.
The sentence was originally issued to allow individuals and companies to challenge seizure in Sunacrip-related tribunal cases. However, this situation has been rectified with the new sentence.
Do you agree with the statement supporting Sunacrip’s strategic role for Venezuela and its activities? Comment below.
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