approved by the authority. 96/2014/ND-CP dated 1b on administrative handling of monetary and banking activities, issuance, distribution and usage of illegal payment instruments (including bitcoin and other virtual currencies) will be subject ylilauta bitcoin lompakota to administrative penalties. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations. Fines can go up to 200 million Dong (about 9,000.S.) for those who violate the governments rules. Nguyen Thanh Tuyen, the customs departments deputy director, told the HMC Law Department on January 24 that between January 1 and 23, a total of 7,932 mining rigs are waiting to be customs-cleared, Tuoi Tre reported. .
Nguyen Hoang Minh, deputy director of the HMC branch of the State Bank, was"d saying: Virtual currency in general, and bitcoin and litecoin in particular, are not currencies and are not legal means of payment under the Vietnamese law. The Ho Chi Minh City (HMC) Customs Department has revealed the number of mining rigs that are on the list to be imported during the first three weeks of January. Most of them, 5,527 rigs, were imported between November and December. . Vietnam has made it illegal to issue, distribute, and use digital currencies with a law that came into force on Bitcoin Vietnam continued operating its cryptocurrency exchange business since then and now risks being prosecuted for criminal liability. No Regulations Yet, 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 goods, Tianphong"d him.
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Furthermore, todays notice also revealed details of fines and the possibility of further prosecution for cryptocurrency adopters. Need to calculate your bitcoin holdings? Bitcoin Vietnam., Ltd., the oldest cryptocurrency exchange in the country, is having its domain name, seized by the Vietnamese government. Bitcoin isnt among them and is, by default, ruled as an illegal payment instrument. What do you think of the Vietnamese mining industry growing so quickly? .
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