Vietnam has set off a mining boom - more than 7,000 mining machines have entered the country

The Ho Chi Minh City Customs in Vietnam recently announced the number of mining equipment that was transshipped into Vietnam in 2017. More than 7,000 mining machines were shipped into Vietnam, most of which came from China, and more than 5,000 were shipped in after November. After Vietnam banned Bitcoin as a payment method, mining was not included in the banned list.

More than 7,000 mining equipment were transported into the country

The Ho Chi Minh City Customs Department recently officially reported that from the beginning of 2017 to mid-December, a total of 7,005 mining machines were shipped into Vietnam.

Dan Tri reported that previously, from January 1 to October 31, 2017, the department received 98 inbound declarations, including a total of 1,478 mining machines with a total value of $2.182 billion.

After that, from early November to December 21, 2017, the number of mining machines shipped into Vietnam from abroad increased to 5,527, and the total number of mining machines shipped into Vietnam that year was 7,005. According to news reports, most of these machines came from a total of 8 organizations and individuals in China.

Mining machines are not banned

The General Department of Vietnam Customs previously asked the State Bank of Vietnam, the Ministry of Information and Communication, and the Ministry of Industry and Trade to provide corresponding opinions on the mining machines entering the country. The central bank confirmed that mining machines for Bitcoin or other cryptocurrencies do not fall within the scope of "paying with virtual currencies." Based on the above information, mining machines "do not belong to the functions and tasks managed by the State Bank."

Subsequently, the General Department of Customs issued a notice stating that mining machines were not added to the list of prohibited items, Vietnam Times explained:

“After the General Administration of Customs announced that Bitcoin mining machines were not included in the list of prohibited imports under national supervision, the number of mining machines imported into the country surged by more than 5,000 in the last two months of 2017.”

Mining machines may be banned in the future

Nguyen Hoang Minh, chairman of the State Bank of Vietnam, said, “Bitcoin and other cryptocurrencies are not legal means of payment in Vietnam. Therefore, the issuance, supply, and use of Bitcoin and other simple digital currencies are prohibited in Vietnam.”

According to the news reports, some businesses and individuals are very worried that mining by mining machines will be banned by the government in the future.

The Ho Chi Minh City Customs Department has advised the Vietnam Customs Department to “not allow mining machines to enter the country,” according to Dan Tri. However, the Vietnam Customs Department has recently exchanged documents with relevant departments regarding the issue of mining machines entering the country.