Venezuela has recently taken steps to regulate cryptocurrency mining due to its high energy consumption. The Ministry of Electric Power plans to disconnect mining farms from the national grid to ensure a stable power supply for the population. This move follows the confiscation of 2,000 mining devices in an anti-corruption initiative. The government aims to stabilize the national power supply, which has been unreliable for years. Other countries like China and Kazakhstan have also implemented regulations on crypto mining to protect their power infrastructure. The crackdown in Venezuela is part of a larger anti-corruption effort, with top officials being arrested. Public collaboration is encouraged to detect illegal mining activities. This is not the first time Venezuela has targeted crypto mining, as similar actions were taken in 2023. The country's attorney general revealed alleged corruption involving parallel oil operations and the national crypto department. Read more AI-generated news on: https://app.chaingpt.org/news