The proposal was introduced by the country’s Ministry of Industry and Trade (MoIT) after the SBV announced that cryptocurrency use within Vietnam was not a “lawful means of payment” this past October.
Also read: Bitcoin Vietnam Faces Losing its Domain from Government
The State Bank of Vietnam Agrees Cryptocurrency Miners Should be Banned
Lately, Vietnam’s government and regulatory bodies haven’t been too friendly towards the cryptocurrency industry.
Now the local reports that the central bank agrees with a proposal written by the Ministry of Industry and Trade (MoIT) which calls for the banning of these mining machines.
The officials think that banning cryptocurrency mining machine imports will further help protect local consumers until virtual currency regulations are more solidified.
Images via Shutterstock, Central Bank photo taken by Xita, and Pixabay.
Vietnam’s largest distribution company, Linh Thanh Group, is apparently partnering with Switzerland-based blockchain company KRONN Ventures to establish the first fully-authorized cryptocurrency exchange in the Southeast Asian country.
The State Bank of Vietnam (SBV); the country’s central bank, has adopted the Finance Minister’s call for a prohibition on the importation of cryptocurrency mining rigs. SBV Sides with MoF and MoIT In June 2018, Vietnam’s Ministry of Finance (MoF) called for a ban on the importation of cryptocurrency mining rigs. Considering that cryptocurrencies are
The State Bank of Vietnam (SBV), the East Asian country’s central bank, announced on July 19, 2018, the import of cryptocurrency miners to the nation is indefinitely suspended.
The post Cryptocurrency Miners Face the Heat as Vietnam Bans Imports and Taiwanese Chipmaker Lowers Revenue Figures appeared first on CryptoSlate.
According to regional reports, the State Bank of Vietnam (SBV) has agreed with a proposal to ban imported cryptocurrency mining machines in order to keep the digital currency economy tethered tightly to the government’s regulatory frameworks.
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Vietnam has moved a step closer to halting cryptocurrency miner imports, a local new source reported on Thursday. According to Viet Nam News, State Bank of Vietnam (SBV), the country’s central bank, has now agreed to a proposed plan to halt imports of the specialized mining devices since the country has already banned the use of
