Vietnam is trying to ban mining

The State Bank of Vietnam has announced that the import of all cryptocurrency miners will be banned in order to improve the management of foreign exchange transactions in the country. This statement followed the receipt of an official letter from the Ministry of Industry and Trade, whose representatives proposed to temporarily ban the import of these units.

Previously, the Deputy Prime Minister of Vietnam demanded that the Ministry of Finance and other relevant authorities consider the issue of importing miners. After this order, the ministry began to work on solving the cryptocurrency problem in the country. According to the Ministry of Finance, cryptocurrency miners are currently not on the list of goods prohibited for import or unsafe for the population, so enterprises can easily purchase them abroad.

Therefore, it is difficult for the authorities to control Vietnamese citizens who mine Bitcoin, Litecoin and other digital currencies. In accordance with Decree 101 on cashless payments, the use of any digital coins is illegal in the country, but people easily use them as a reserve currency or an additional method of payment.

The representative of the Ministry of Finance also pointed to a case where Modern Tech Corp was accused of fraud in the amount of more than 650 million dollars. USA, which were stolen using the lfan and Pincoin investment models. According to the Vietnamese government, protecting the population from such schemes in the future requires government authorities to take strict measures to control cryptocurrencies.

Therefore, the Ministry of Finance proposed to temporarily ban the import of mining equipment. According to the General Administration of Customs, from 2017 to April 2018, Vietnam imported 15,600 mining devices. Most of the devices were imported to Ha Nsi, Ho Chi Minh City and Da Nang.

According to vietnamnews.vn