Venezuelan Bitcoin miners were eager for regulations that put them on good terms with authorities. These aren’t the regulations they were looking for. The Venezuelan government's recent decision to regulate Bitcoin mining has, in essence, given the government of Nicolas Maduro a monopoly over the industry and its associated components, from equipment sales to hosting.
But no one is more affected than miners themselves. Required to participate in a national mining pool, they find themselves in a lose-lose situation: They can choose to break the new Venezuelan law by mining with a private pool. Or they can become subject to US sanctions for carrying out economic activity in collaboration with the Venezuelan government.
Source:
https://decrypt.co/42786/venezuela-new-bitcoin-law-exposes-miners-us-sanctions