"The government of Venezuela issued a statement reiterating the ongoing ban on digital mining operations, as the country faces peak energy demand, prompting power rationing measures affecting citizens. The statement stressed that on May 7, the National Electric System experienced a peak demand of 15,579 MW, the highest number in 9 years, attributing this rise to an ongoing heat wave and the continued growth of the country's economy. Regarding crypto mining, it states that the absolute ban on digital mining in the national territory is upheld."
"Those who illegally use this activity will be sanctioned as the law establishes. Furthermore, authorities established an oversight plan to fulfill this order. After May 7, demand hit 15,579 MW, Venezuela upheld a mining ban, and will next sanction illegal operators."
"Tether has introduced a lawsuit in Sao Paulo to recover $300 million borrowed to Titan Holding, a company part of the Master conglomerate owned by Daniel Vorcaro. Vorcaro, who was apprehended on Thursday, was also the owner of Banco Master, liquidated by the Central Bank of Brazil in November after a $2.2 billion hole in its reserves was detected. According to local media, the loan was issued by Tether Investments one year a"
"Binance notes stablecoins drive 90% of Peru's $28B crypto market, aiming to cut remittance middlemen. The government of Venezuela issued a statement reiterating the ongoing ban on digital mining operations, as the country faces peak energy demand, prompting power rationing measures affecting citizens."
Venezuela upheld an absolute ban on digital mining across its national territory as peak electricity demand rose to 15,579 MW on May 7, the highest level in nine years. The increase was attributed to a heat wave and continued economic growth, leading to power rationing measures affecting citizens. Authorities reiterated that illegal mining activity will be sanctioned under existing law and established an oversight plan to enforce the ban. In Brazil, Tether filed a lawsuit in Sao Paulo to recover $300 million from Titan Holding over a defaulted loan. Tether also sought an asset freeze to recover funds. In Peru, stablecoins accounted for 90% of the $28B crypto market, with efforts aimed at reducing remittance middlemen.
Read at news.bitcoin.com
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