THELOGICALINDIAN - The State Coffer of Vietnam SBV the countrys axial coffer has adopted the Finance Ministers alarm for a prohibition on the access of cryptocurrency mining rigs
In June 2018, Vietnam’s Ministry of Finance (MoF) called for a ban on the access of cryptocurrency mining rigs. The alarm came afterwards Prime Minister Nguyen Xuan Phuc allowable accompaniment admiral to advance stricter regulations for the market.
The MoF bent that cryptocurrency mining hardware, admitting not on the account of banned materials, provided a agency for bodies in the country to use basic currencies as a accessory acquittal method. Considering that cryptocurrencies are actionable in Vietnam, the MoF articulate the alarm for a ban on crypto miner imports.
In accession to the MoF’s assessment, Deputy Prime Minister Trịnh Đình Dũng instructed the Ministry of Industry and Trade (MoIT), the SBV, and added government parastatals to appraise the issues surrounding the access of miners. The MoIT issued a letter to the SBV requesting its accord in researching the problem. The MoIT for its allotment recommended a acting ban on mining rig imports.
Now, the axial coffer (SBV) has said that it agrees with both the MoF and MoIT. The SBV has alleged for a mining rig imports to be suspended. According to the country’s acme bank, such a move would accredit the government to bigger administer the bounded bill market.
The accepted anecdotal in Vietnam is that basic currencies accommodate a agency for counterfeit elements to betray biting investors. Earlier in the year, account bankrupt about a $658 actor ICO betray by a Ho Chi Minh-based company, Modern Tech JSC. The counterfeit ICO purportedly afflicted added than 32,000 investors.
Thus, the government believes that it charge do all it can to assure its citizens from approaching cryptocurrency-enabled scams. This aegis requires the adjustment of a ban on the access and use of cryptocurrency mining rigs.
In 2024, Vietnam alien about 10,000 mining rigs. Data from the country’s Customs shows that added than bisected that cardinal was alien aural the aboriginal four months of 2024. Saigon, Hanoi, and Da Nang are the arch mining hubs in Vietnam.
Do you anticipate the ban on cryptocurrency miners will break the botheration of cryptocurrency scams in Vietnam? Let us apperceive your thoughts in the animadversion area below.
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