Venezuelan government bans cryptomining in state-granted housing

Venezuelan Minister of Habitat and Housing, Ildemaro Villarroel, announced today that no cryptomining operations will be allowed in any state-owned housing or neighborhood that is part of the „Gran Misión Vivienda“ project.

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During an official speech on July 15, Villaroel stated that any type of equipment related to cryptomining is prohibited in public housing due to „high energy consumption“ and for „violating“ widely the government’s electricity supply policy.

The minister added:

„In this coordinated work, we have detected the harmful effects of these elements of high electrical demand in the public houses of the Gran Misión Vivienda project“.

The Gran Misión Vivienda is a Venezuelan government plan to provide housing to low-income citizens in the midst of a long-lasting economic crisis that the country had already faced before the appearance of COVID-19.

„Damaging“ the local energy supply system

Villarroel says that cryptomining activities could damage the distribution of the energy supply in each neighborhood. But critics of the measure, mainly through social networks, say Venezuela has been negligent in improving the local electricity supply system. The problem became worse after a national power outage in 2019 as a result of the failure of the „Guri“ hydroelectric dam.

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