The Ministry of Finance of Vietnam calls to ban the import of ASIC miners

The Ministry of Finance of Vietnam calls on Prime Minister Nguyen Xuan Fuca to ban the import of equipment for mining cryptocurrency, which is now imported into the country without any restrictions. This is stated in the report the Agency, which relies on the opinion of representatives of ministries that are concerned with the spread of cryptocurrencies in Vietnam.

Mining hardware is not included in the list of goods prohibited for import into Vietnam and is not subject to special licensing or registration, so the company easily realize its import.

According to local source, in connection with the uncontrolled importation of equipment for mining to monitor the mining of cryptocurrencies, even approximately it is impossible. Cryptocurrency is used as a method of payment, and it is a violation of local legislation on non-cash payments.

According to the General administration of customs of Vietnam, 2017, the country imported about 15 600 ASIC-miners are mainly in Hanoi, Ho Chi Minh city and da Nang. Only for the first four months of 2018 was imported more than 6,300 of these devices.

In the report of the Ministry of Finance also mentioned a case when the controlled Vietnamese company Modern Tech advancing as cryptocurrency startups from Singapore and Dubai Ifan and Pincoin turned out to be financial pyramids, which managed to attract more than 15 trillion Singapore dollars (approximately $656 million) as a result of fraud, which affected more than 32,000 people.

Fearing such situations, the Ministry requires the government to take strict measures to control the import and usage of miners.

«To prevent similar events in the near future the Ministry of Finance proposed to apply measures to suspend the importation of equipment for mining,» – said in the report of the Ministry of Finance.

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