The Ministry of Industry and Trade (MoIT) has proposed not to suspend the imports of cryptocurrency mining machines (HS code 8471.80.90) in order to the ensure the production and business activities of enterprises.

Vietnamese businesses and individuals have stopped importing bitcoin mining equipment to the country since the beginning of July, according to the HCM City Customs Department.

Many banks are likely to seek an increase in their credit limits like they did in previous years when they used up their assigned quota halfway through the year.

The State Securities Commission has recommended that public companies, securities companies and fund managers as well as securities investment funds not carry out issuance, trading and brokerage activities related to virtual currency.

The State Securities Commission (SSC) has required relevant companies and funds not to engage in any issuance, transaction or brokerage activities related to cryptocurrencies.

 The State Bank of Việt Nam (SBV) said that it agreed with the proposal of the Ministry of Industry and Trade (MoIT) to suspend the import of cryptocurrency mining machines in a move to improve the management of currency transactions in the country.

Deputy Prime Minister Vương Đình Huệ yesterday took the floor to answer National Assembly (NA) deputies on several socio-economic issues of public concerns.

The Ministry of Finance (MoF) has proposed to temporarily halt the import of bitcoin mining machines to improve the management of bitcoin and cryptocurrency transactions.

Prime Minister Nguyễn Xuân Phúc on Friday demanded the Government find solutions to support domestic businesses amid constant policy changes from the world’s biggest economies.

The Kaspersky Lab Anti-Malware Research team has identified two botnets made of computers infected with malware that silently install cryptocurrency miners, which are legitimate software used to create (mine) virtual currencies based on blockchain technology.

The State Bank of Vietnam (SBV) has clearly stated that unlike legal tenders, cryptocurrencies such as bitcoin are not considered real money and thus not recognised as payment methods in Vietnamese law.