According to the source reported on July 19, the Vietnam is in plan to halt cryptocurrency mining machines since the country has already imposed ban on crypto payments.
However, the decision made by State Bank of Vietnam was in response to a proposal from the Ministry of Industry and Trade (MoIT) previous month. In view of the fact that, the MoIT has temporarily ban the import of mining machines.
Recently, Trịnh Đình Dũng, Deputy Prime minister, SBV and other relevant experts and also institutions to considered the imports of crypto mining machines. However, it was based on their management and current legal regulations.
The MoLT Ministry said that fact that the crypto miners are not on the list of prohibited at present. Although, it seems to be difficult for local authorities to manage the restriction on crypto assets.
Moreover, the proposal of MolT followed the request from the Ministry of Finance in May. Therefore, it is in regards with recent news by local authorities; over a $660 million crypto fraud. In order to protect of Vietnamese people, the management to take strict regulations with use of both import and commodities.
The reports suggested that, Vietnam imported approximately 15600 crypto mining machines this year. Since, many of the machines were imported to Ho Chi Minh City and the national capital Hanoi. Also, it was stated that more than 9300 crypto miners have entered worldwide.
Image Source: Crypto Mining