The Supreme Court of Justice, on its official website, published the measure executed by the First National Contentious Administrative Court of the Capital District, on an appeal for protection in favor of the company Sierramoros C.A. Their “rights to defense” were allegedly and confiscated more than 1,600 mining equipment by the National Superintendency of Crypto Assets and Related Activities (Sunacrip).

The action turned the court’s decision into a new precedent. The mining company filed the amparo appeal for the annulment of the confiscation of the equipment, claiming that the process carried out by Sunacrip presented irregularities, since the regulator did not explain the causes of the confiscation, nor did it offer them information about the location. of the confiscated equipment. In addition to preventing them from “collecting the necessary documents within the deadlines established by law”, violating property and “economic freedom.”

Return of confiscated equipment

The Caracas court evaluated the evidence and arguments presented by the defense attorneys of the mining company and agreed to issue a judgment annulling the confiscation of the “12 Antminer S9-S9I equipment, 1,624 EBANG E9I miners and 1,475 sources of power” that must return in its entirety to Sierramoros CA, in accordance with the provisions of the amparo accepted by the Caracas court.

However, the court also established, as part of its decision, to carry out another investigation that would allow to verify that the company has the permission and requirements indicated by Venezuelan laws for the execution of activities related to the mining of crypto assets.

On the other hand, this fact shows that Sunacrip is not the only institution that has power to regulate the crypto sector in Venezuela. So, if any company considers that its rights are being violated, it can go to the country’s courts and request the protection conceived within the laws of Venezuela.

M. Rodríguez

Source: bancaynegocios.com