But there is no business in emulation development so there is no need to setup in countries out of reach of Japan law. Like I said, emu devs are hobbyist devs who have regular jobs in whatever country they are living in, they have zero reason or incentive to leave that country to go to a country like Venezuela which is not somewhere most people would want to live.
Emulation when done legally companies like Nintendo leave the devs alone. I haven't seen Nintendo going after Ryujinx though admittedly I have not been paying attention. You also don't see Nintendo going after other Nintendo emulator devs, there is a reason for that.