The government, supported by other government agencies and the country’s central bank, is likely to pass a law banning the import of bitcoin mining rigs into Vietnam.
Owing to the government’s efforts to pass a law banning the import of bitcoin mining rigs into Vietnam, since early July, Vietnamese businesses and individuals have stopped importing bitcoin mining equipment into the country. The Customs Department of Ho Chi Minh City (HCMC) confirmed the same with Bitcoin.com.Earlier businesses and individuals imported a large number of crypto mining rigs into the country. The customs department of HCMC cleared more than 7,000 bitcoin and litecoin miners last year.Around 190 bitcoin miners and 350 litecoin miners were imported by the Customs Department of Hanoi. As reported by the HCMC Customs Department 3,664 crypto miners were imported by the businesses and individuals from the beginning of this year to August 6, most of which were Antminers from China.The few other government agencies and the country’s central bank, the State Bank of Vietnam (SBV) extended support towards the move.Prime Minister Nguyen Xuan Phuc, in April this year, had signed a directive for stronger measures for cryptocurrencies. "Under the directive, credit institutions in Vietnam are not allowed to carry out cryptocurrency-related transactions and must swiftly report any suspicious activities," authorities said while imposing the ban on import of bitcoin mining rigs.