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Venezuela Passes Law Legalizing Crypto Mining, Forces Miners to Join National Mining Pool

Reports say Venezuela has now legalized bitcoin mining following the decree recently issued by the National Superintendency of Crypto Assets and Related Activities (Sunacrip). As part of the new regulations, all entities and individuals interested in legally mining bitcoin and other cryptocurrencies must now apply for a license from the agency. According to a report, the decree will result in the creation of a National Digital Mining Pool (NDMP), a body that “seeks to bring together all the miners operating on the Venezuelan territory.” Meanwhile, the decree document, which was signed by Joselit Ramirez the superintendent of Sunacrip, does not…

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Bakkt Futures Volume Hits $122 million, as Bitcoin Reached New 11-Month High

Volumes on bitcoin futures offered by Bakkt set a record high on July 27, with 11,500 contracts traded on the institutional exchange. Altogether, the contracts are worth about $126 million, at the time of writing. Each contract is equivalent to one bitcoin (BTC). Total open interest – an indicator of the total number of outstanding contracts held by investors – reached $8 million from a low of around $4 million a few days earlier, showing that more money is flowing into the marketplace. In a tweet, Bakkt said: “Our bitcoin futures reached a new record high of 11,509 contracts traded…

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