Bitcoin, Crypto currency, Blockchain

Import Mining Rigs stopped after Vietnam

a52f419f429b3bfe58fa92d280ddd017 - Import Mining Rigs stopped after Vietnam


Companies and individuals in Vietnam have imported according to the customs authority of Ho Chi Minh city since the beginning of July, there was no Bitcoin Mining Rigs in the country. This is due to the recommendation of the Ministry of Finance to prohibit the Import of mining Hardware.

At the beginning of the year, Vietnam recorded a record-breaking Import of Mining Rigs. The Vietnamese imported in January, almost 8,000 units more than in the entire previous year. Remarkably, this tremendous increase is mainly because of the use of crypto-currencies since 1. January 2018 is banned in Vietnam.

From the record of the Import to the Import-stop

Already at the beginning of the year, the customs authority of Ho Chi Minh city (HCM) had voted to ban the Import of Mining Rigs. Like the Vietnamese news portal VietnamBiz reported, have not been imported for many Mining Rigs of individuals and companies that had the required amount of the appropriate tax number. Accordingly, the Ministry of Finance said in a recommendation to the import ban. Also, the Ministry of industry and trade recommended that “the Import of crypto-currency-Mining-machines, in order to improve the Management of currency transactions in the country.”

The ban of crypto-currencies is necessarily also a ban on the import of Mining Rigs. So, the Ministry of Finance said:

“The use of Mining is to manage currencies Equipment for Bitcoin, Litecoin and other Crypto for the authorities in the country difficult. This makes it for people turn easy, crypto-currencies as a currency or to use a different payment method, which is in Vietnam in accordance with the amended decree 101 on non-cash payments illegal.“

Certainly recently uncovered Scam of the Mining has helped to shape company Sky Mining this assessment. Although no official ban was issued, broke the import market for Mining Rigs in Vietnam since the beginning of July.

Leave a Comment