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The State Bank of Vietnam has announced that it is backing a plan proposed by the Vietnamese Ministry of Finance to place a suspension on the import of cryptocurrency mining equipment, according to a report by the Vietnam News on July 19.

Individuals and enterprises in Vietnam have halted all mining operations as the imminent ban on crypto mining devices looms. Vietnam to halt the import of mining devices Regulatory scrutiny on crypto related operations in Vietnam has increased following the nationwide ICOfraud that reportedly carted away with an estimated 660 million from 32,000 domestic investors.

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Vietnam to Ban Import of Cryptocurrency Mining Equipment Recently, Vietnam joined the league of nations that restrict the operations of digital currencies due to cases of fraud and scams running rampant in the nation's cryptocurrency market.

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Vietnam's Ministry of Finance has officially proposed that the country bans the import of cryptocurrency mining equipment. Bitcoin mining rigs are currently easily imported into Vietnam. This proposal follows the largest crypto fraud case in the country involving over 656 million and more than 32,000 victims.

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Vietnam's Ministry of Finance has officially proposed that the country bans the import of cryptocurrency mining equipment. Bitcoin mining rigs are currently easily imported into Vietnam. This proposal follows the largest crypto fraud case in the country involving over 656 million and more than 32,000 victims.

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Vietnam's Ministry of Finance (MoF) has proposed a sweeping, albeit temporary, ban on the import of cryptocurrency mining equipment, according to local reports this week.