Nearly 8000 Mining Rigs to be Imported

The Ho Chi Minh City (HMC) Customs Department has revealed the amount of mining rigs which are on the list to be imported during the first three weeks of January.

The customs department’s deputy director, nguyen Thanh Tuyen, told the HMC Law Department on January 24 that between 23 and January 1, a total of 7,932 mining rigs are currently waiting to be customs-cleared, Tuoi Tre reported.  He added that the complete value of the rigs is”almost $12.3 million…[and] the amount of tax paid to the [city’s] funding is almost 28 billion dong [~$1.23 million].”  Tianphong elaborated:

Currently, bitcoin mining rigs’ purchase price is high, from 70 to 80 million [VND]; some places even [sell them for] around 100 million [VND] per machine.

The book noted that most mining rigs are imported from China, adding that they cost roughly 20-25 million dong each but were sold dong each in ancient 2016.  By mid-2017,”that the price of mining rigs increased to VND 45-60 million per machine and at present, even though the purchase price of bitcoin diminished, the price of mining rigs still increased to VND 80-90 million each machine,” the publication added.

News and bitcoin gaming and casino games.Bitcoin. Com reported that a total of 7,005 mining rigs that were known were imported in 2017. Most of them, 5,527 rigs, were imported between November and December 21.  Only 1,478 rigs were declared entering the country between January 1 and October 31 of last year, according to the HMC Customs Department.

No Regulations Yet

Tuyen explained that mining rig imports and mining operations in the city are”still normal since there are no regulations for the import of these products,” Tianphong quoted him. Presently,”the State Bank has verified that bitcoin and other similar virtual currencies are not legal way of payment in Vietnam” and residents using them as such”will be fined 150-200 million [VND], and can be subject to criminal prosecution from January 1, 2018,” the novel emphasized.

Nguyen Hoang Minh, deputy manager of the HMC branch of the State Bank, was quoted saying:

Virtual currency in general, and are not means of payment under the law that is Vietnamese and bitcoin and litecoin particularly, aren’t currencies.

What do you think of the Vietnamese mining industry growing so quickly?  Tell us in the comments section below.

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