Wednesday, November 13, 2019

Vietnam stops bitcoin mining imports

Aug 14. 2018
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By Viet Nam News
Asia News Network
Hanoi

5,671 Viewed

Vietnamese businesses and individuals have stopped importing bitcoin mining equipment to the country since the beginning of July, according to the HCM City Customs Department.

The department said firms and individuals imported more than 3,664 cryptocurrency mining rigs in the first six months of the year, most of which were 'Antminer' branded models from China.

Four enterprises imported more than 3,000 machines this year, while the rest were imported by individuals and organisations, which do not have import tax codes.

Last year, HCM City Customs Department completed customs clearance for more than 7,000 bitcoin and litecoin miners. Meanwhile, the Ha Noi Customs Department approved import of 190 bitcoin miners and 350 litecoin miners.

The Ministry of Industry and Trade in collaboration with the Ministry of Finance, State Bank of Vietnam, Ministry of Justice and relevant agencies are considering suspending the import of cryptocurrency mining machines in a move to improve the management of currency transactions in the country. 

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