Catenaa, Tuesday, February 17, 2026- Venezuelan authorities have ordered cryptocurrency exchanges and mining operations nationwide to halt activities as part of a government anti-corruption investigation that has led to at least 21 arrests and a sweeping overhaul of the national crypto regulator.
The crackdown follows a directive by President Nicolás Maduro to restructure Venezuela’s cryptocurrency oversight agency amid allegations of misconduct and irregular financial dealings tied to state crypto operations.
The probe has targeted private crypto companies that had operated under government supervision, forcing major facilities to cease operations.
Mining farms in Bolívar state, long a hub due to access to subsidized electricity, were among the first to shut down.
Similar closures were reported in Lara and Carabobo as authorities moved to disconnect facilities during the investigation. Local industry groups warned the shutdowns could have widespread economic fallout for digital businesses that relied on mining and exchange services.
Officials have not released detailed charges against those detained, but the actions come amid concerns about alleged corruption within the state’s crypto administration and broader regulatory instability. Venezuela’s regulatory framework for crypto assets has been described as fragmented and opaque following earlier scandals involving the national crypto regulator, SUNACRIP.
Once a major use case for Venezuelans seeking to hedge hyperinflation and bypass traditional financial barriers, crypto now faces heightened scrutiny and regulation, casting uncertainty over privately run exchanges and mining farms and the future of on-chain activity in the country.
