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Nearly 8000 Mining Rigs to be Imported

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

The deputy director of the customs department, nguyen Thanh Tuyen, told the HMC Law Department on January 24 that between January 1 and 23, 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”almost $12.3 million…[and] the amount of tax paid to the [city’s] budget is almost 28 billion dong [~$1.23 million].”  Tianphong elaborated:

Currently, the price of mining rigs that are bitcoin is high, from 70 to 80 million [VND]; some areas [sell them for] up to 100 million [VND] each machine.

The publication noted that mining rigs are imported from China, including they cost roughly 20-25 million dong each but were sold for 35-40 million dong each in 2016.  By mid-2017,”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 still increased to VND 80-90 million each machine,” the publication added.

News and bitcoin gambling and casino games.Bitcoin. Com reported that a total of 7,005 mining rigs that were known were imported in 2017. The majority of them, 5,527 rigs, were imported between November and December 21.  Only 1,478 rigs were announced 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 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 can be subject to criminal prosecution from January 1, 2018,” the publication emphasized.

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

Currency generally, and are not legal means of payment under the law that is Vietnamese and bitcoin and litecoin particularly, are not currencies.

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

Pictures courtesy of Shutterstock.

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Source: bitcoincasinoreview.net

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