Venezuela cancels the equipment seizure of more than 1
A Venezuelan court based in the country's capital has decided to overturn a seizure measure that the national cryptocurrency supervisory authority, Sunacrip, carried out last month. The operation, which was conducted in a joint effort by the national forensic police and Sunacrip, presented several irregularities and according to the court records, violated the "right to defense and due process, as well as the right of ownership of the plaintiff companies. ”The seized equipment was undergoing maintenance by third parties and the operation inspected these companies, taking into custody 12 Antminer S9-S9I, 1,624 EBANG E9I and 1,475 power sources. However, Sunacrip did not specify where these miners would be held.
Another irregularity detected by the court is that this type of procedure allows the required documents to be presented within a time limit 15 days. However, in this case, the authorities seized the equipment on the same day.
With the introduction of this type of request into Venezuelan legislation, there is now precedent stating that courts can actually interfere in these cases if there is a presumption of a violation of property rights, economic freedom or due process. The court's decision states that this seized equipment must be returned to its owner, a company called Sierramoros, who will have custody of it until the matter is resolved. However, the ruling also obliges the company not to use that same equipment until the ongoing review of its permits is closed.