Nearly 8000 Mining Rigs to be Imported

The Ho Chi Minh City (HMC) Customs Department has revealed the amount of mining rigs that are on the list to be imported during the first 3 weeks of January.

Nguyen Thanh Tuyen, the customs department’s deputy director, 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 become customs-cleared, Tuoi Tre reported.  He added that the total value of the rigs is”nearly $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, mining rigs’ purchase price is high, from 70 to 80 million [VND]; some areas [sell them for] up to 100 million [VND] per machine.

The publication 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 2016.  By mid-2017,”that the amount of mining rigs increased to VND 45-60 million per machine and at present, even though the purchase price of bitcoin decreased, the purchase price of mining rigs increased to VND 80-90 million each machine,” the publication added.

News and bitcoin casino welcome bonus bovada try bitcoin casino free no deposit bonus.Bitcoin. Com reported that a total of 7,005 known mining rigs 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 Nevertheless

Tuyen explained that mining rig imports and mining operations in the city are”still normal because there are no regulations for the import of such products,” Tianphong quoted him. Presently,”the State Bank has confirmed 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 may be subject to criminal prosecution from January 1, 2018,” the publication highlighted.

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

Virtual currency generally, and are not way of payment and bitcoin and litecoin in particular, aren’t currencies.

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

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