Venezuela has reaffirmed its nationwide ban on digital mining after electricity demand reached 15,579 MW, the highest level in nine years. In a government statement, officials said the national power system hit that peak on May 7, linking the surge to an ongoing heat wave and continued economic growth. Authorities said the “absolute ban” on digital mining remains in force across the country, and illegal operators will face sanctions under the law. An oversight plan has also been put in place to enforce the order.
Power strain keeps mining under a full ban in Venezuela
The statement came as the country was dealing with electricity rationing measures affecting residents. Officials connected the pressure on the grid to weather conditions and rising activity in the economy, while making clear that crypto mining remains prohibited. The language left little room for interpretation. The next step, according to the statement, is enforcement against those still operating outside the ban.
Tether files in São Paulo over unpaid Titan Holding loan
In Brazil, Tether has filed a lawsuit in São Paulo to recover a $300 million loan made to Titan Holding. The company is part of the Master conglomerate controlled by Daniel Vorcaro. The report says Vorcaro was apprehended on Thursday and was also the owner of Banco Master, which Brazil’s central bank liquidated in November after detecting a $2.2 billion hole in its reserves.
Local media said the loan was issued by Tether Investments one year ago, before the scandal surrounding the Master group became public. Repayment was due on March 28, exactly 12 months after issuance, but no payment had been received by the time of publication. In the lawsuit, Tether asked the court to freeze funds held in bank accounts, financial applications, investments, and other financial assets belonging to Titan, Master Holding, and Master Participações.
Stablecoins account for 90% of Peru’s crypto activity, Binance says
Peru is showing a different side of Latin America’s crypto market, with stablecoins taking a central role in transaction flow. Daniel Acosta, Binance’s Latam North general manager, said the country’s cryptocurrency market records about $28 billion in annual volume, and 90% of those operations involve dollar-pegged stablecoins. He said one of the main reasons is their use as a dollar substitute in remittances and cross-border payments.
That use case matters because it cuts out intermediaries, lowering costs and making transfers more efficient. The figures suggest that in Peru, stablecoins are not limited to trading pairs or exchange liquidity. They are also being used directly in payment and money transfer activity.