Bitcoin diggers were massively imported to Ho Chi Minh City

15:43 | 12/06/2018 Import-Export Follow english.haiquanonline.com.vn on

VCN- Ministry of Finance has proposed the Government to ban the Bitcoin digger import, while this machine is still imported to Ho Chi Minh City via express delivery.

	Prime Minister requests to strengthen management for multi-level marketing of virtual currency
	Over 9,300 automatic data processing machines for exploiting online virtual currency were imported
	Management of digital money: Avoiding of deformation

bitcoin diggers were massively imported to ho chi minh city

Nearly 11,000 diggers were imported to Ho Chi Minh City

According to the Express Cargo Customs Branch under Ho Chi Minh City Customs Department, from the beginning of 2018 to 10th June 2018, the Branch has carried out Customs procedures for 3,644 automatic data processing machines for exploiting online virtual currency that were imported to Ho Chi Minh City.

These shipments were imported and carried out Customs procedures by enterprises, individuals and organizations through the Express Cargo Customs Branch under Ho Chi Minh Customs Department.

Of which, 4 enterprises imported over 3,000 diggers, and the remaining diggers were imported by individuals and organizations without tax codes.

There are many types of diggers but mainly are Bitcoin diggers and Antminer diggers. In addition, there are some virtual servers.

According to the reporter, among 4 enterprises importing over 3,000 automatic data processing machines, there is one enterprise in Ho Chi Minh City that is noteworthy. Although this enterprise has only been newly established just over 8 months, from the beginning of the year to now, the enterprise imported nearly 2, 300 diggers.

According to advertisement of the enterprise, customers can buy many types of diggers, including Bitcoin, ETH, Litecoin, Dash digger and will be instructed specifically about the use as well as choice of the most effective coin.

According to Ho Chi Minh City Customs Department, in 2017, over 7,000 Bitcoin and Litecoin diggers were imported to Ho Chi Minh City via express delivery by 7 enterprises and some individuals, organizations without tax codes.

Of which, nearly 3,000 diggers were imported by individuals and organizations without tax codes, the remaining numbers were imported by enterprises. Hence, currently, nearly 11,000 virtual currency diggers were imported to Ho Chi Minh City via express delivery.

Proposing to ban imports

Currently, according to provisions in the Government’s Decree 187/2013/ND-CP, the automatic data processing machines for exploiting online virtual currency including Bitcoin and Litecoin are not subject to the list of goods banned from import or suspended from import or imported with license.

According to Ho Chi Minh City Customs Department, in order to use Bitcoin and other virtual currency diggers, it is necessary to have utomatic data processing machines for exploiting online virtual currency. Facing with the massive import, in the end of 2017, Ho Chi Minh City Customs Department has reported and proposed the General Department of Vietnam Customs to ban the import of these machines. The General Departments of Vietnam Customs has exchanged with relevant units for the import and management of these machines.

At the recent session of the National Assembly, Deputy Prime Minister Vuong Dinh Hue said that when having information on the people buying Bitcoin and complicated cases occur, the Prime Minister has requested to strengthen the management.

Hence, the State Bank has issued an official letter not to recognize Bitcoin as well as other virtual currencies as a legal currency in Vietnam.

Potential risks from the import of Bitcoin diggers

The import of automatic data processing machines Bitcoin and Litecoin has signs of increasing. Customs is worried ...

However, the Bitcoin import is still quite massive. According to the report of the Ministry of Finance, the country has imported 15,600 Bitcoin diggers.

“The Ministry of Finance is proposing to ban but the legal framework of this issue needs to be considered” the Deputy Prime Minister said.

In order to strengthen the management of Bitcoin related activities and virtual currencies, the HCM City People's Committee has also directed the units to continue coordinating the management and handling of virtual assets, e-currency and virtual currency in the city.

Accordingly, the units shall intensify the inspection and supervision to promptly detect, prevent and strictly handle violations related to the virtual currency, especially the financial mobilization and multi-level business activities and frauds on the internet through virtual currency or impersonation for virtual currency investment and business to appropriate properties.

To attach importance to propaganda and warnings to raise people's awareness about risks and consequences related to trading, investment and business of virtual currency.

By Le Thu/Ngoc Loan

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