Crypto mining equipment cannot be imported into Vietnam anymore. While this is hardly a surprise given the law that was put in place last month, the actual implementation is making waves. According to Viet Nam News, the crypto mining equipment ban covers both individuals and mining companies.
The HCM City Customs Department states that in the first half of 2018, more than 3,664 crypto mining rigs were imported into the country. Most of these rigs were “Antminer” models from China. Of these 3,664+ rigs, 3,000+ were imported by companies. Less than a thousand were imported by individuals.
The Department also revealed that clearance was given to more than 7,000 Bitcoin and Litecoin miners in 2017, while imports numbered at 190 Bitcoin miners and 350 Litecoin miners.
All that is in the past now, however, with the government really coming down hard on the cryptocurrency industry. According to officials, the Ministry of Industry and Trade is working with the Ministry of Finance, State Bank of Việt Nam, Ministry of Justice, and other agencies to regulate cryptocurrency and the import ban is part of this regulation.