Venezuela has banned the import of equipment for mining

Despite the active position of Venezuela in regard to cryptocurrencies, may 29, the government banned international carriers to import into the country of mining hardware, stating that such devices are no longer in the list of «approved for import items».

According to local reports, the Venezuelan customs authorities will now confiscate the equipment for cryptocurrency mining, including ASIC miners, graphics cards and computers that arrive into the country via sea, air and land routes. The rule was adopted with immediate effect.

To prevent unexpected forfeiture to its customers, major carriers in the country have updated their sites by placing on them the information regarding the ban on the import of mining equipment in Venezuela.

Liberty Express and logistics giant, which until recently imported devices for cryptocurrency mining in Venezuela, said that such equipment can no longer be imported to Venezuela and advised his clients not to try to send these products, as it will be confiscated at customs.

However, such major companies as DHL, Domesa and LearExpress is not included mining equipment in the list of prohibited to import goods. According to reports, they notify customers of the ban in person in order to avoid unforeseen situations.

While the logistics companies themselves are not responsible for the safety of imported goods, the Venezuelan government notorious for its treatment of the imported goods, and the citizens regularly report on open shipments, incomplete orders and thefts. Most often, these precedents arise in the air. Therefore personal notification may not be such a bad idea.


In recent months, Venezuelan President Nicolas Maduro claimed that the country became a pioneer in the development of the cryptocurrency industry, and in no time boasted launched in February this year, the state cryptocurrency Petro.

However, all his statements about the development of the cryptocurrency industry can hardly be considered reliable, especially in relation to citizens ‘ access to the cryptocurrency. Before the ban on the import of mining equipment in the country, Maduro called
ordinary citizens actively to mine cryptocurrencies. The government has developed a program for mining crypto-currencies, in which the President was hoping to attract at least a million people — University students, the unemployed, single mothers and homeless, that is, the poorest populations most affected by the financial crisis in the country.

Earlier in April 2018 angel Alvarez (Angel Alvarez), the President of the National Association of crypto-currencies of Venezuela, told the media that the country is in the process of developing measures related to the mining of cryptocurrencies. Then he noted that currently the government is re-evaluating the laws regarding the import of mining equipment. In addition, in accordance with the statement of Alvarez, Venezuela was considered a question on creation on its territory of production mining farms that would allow her not to rely on foreign equipment.

Obviously, the President believes that he has managed to translate their plans into life. However, it is unclear how a country suffering from hyperinflation, and in which millions of people live below the poverty line, able to organize such production in such a short time. To improve their situation with the help of government cryptocurrency Venezuela seems to have failed. For several countries (among them India
and Russia) have denied rumors that they will take Petro to pay for goods and to make cross-border settlement of transactions with Venezuela for the cryptocurrency.

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