Due to violations that occurred during the confiscation, a court in the Venezuelan capital revoked the seizure of more than 1,000 Bitcoin miners. According to court documents, the seized equipment was kept by a third-party company engaged in maintenance services. The court ordered Sunacrip, the national cryptocurrency regulator, to retrieve the miners from their owners.
Venezuelan court rules on crypto seizure case
The Venezuelan court in the country’s capital has decided to revoke the seizure measures of the national cryptocurrency regulator. Sunaklip, Implemented last month.The operation was jointly carried out by the country’s scientific police and Sunacrip, and there were some violations. According to Court documents, Infringed on the “rights of defense and due process, as well as the property rights of the plaintiff company.”
The seized equipment is being repaired by a third party. The operators inspected these companies and seized 12 Antminer S9-S9I, 1,624 EBANG E9I and 1,475 power supplies. However, Sunacrip did not specify where the miners were detained.
Another violation noted by the court is that this procedure allows the required documents to be submitted within 15 days. However, in this case, the authorities confiscated the equipment on the same day.
The court can handle these cases now
With the introduction of this requirement in Venezuelan legislation, there are now precedents that show that courts can indeed intervene in these cases if it is presumed to violate property rights, economic freedom, or due process. The court’s decision stated that these seized devices must be returned to their owners, a company called Sierramoros, which will keep them until the problem is resolved.
Another interesting element of the case is that since the Sunacrip officials who oversaw the operation did not specify where the miners were stored, the plaintiff believed that these miners might be used by a third party to mine bitcoin, and the case was resolved.
The court ordered that although Sierramoros has the right to guard these miners, it cannot allow them to work until the end of the continuous revision of its license.
What do you think of the conduct of Venezuelan courts? Tell us in the comments section below.
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