MoIT Makes Case for Crypto Mining

Viet Nam News, HÀ NỘI — 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 ensure the production and business activities of enterprises.

The MoIT has raised concerns that the suspension of imports will affect production and business activities of enterprises using these devices. — Photo plo.vn

Viet Nam News, HÀ NỘI — 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 ensure the production and business activities of enterprises.

The proposal was made in a document on the management of importing automatic data processing machines written by the MoIT and recently submitted to the Prime Minister.

Statistics from the General Department of Việt Nam Customs showed that the country imported more than 27,239 products in 2017 and over 15,117 products of this HS code in the first five months of this year.

According to the MoIT, the scope of the impact will be very large if halting the import of this kind of machine. As it is not possible to identify specifically which items need to be managed, stopping all imports is not in accordance with the provisions of the Law on Foreign Trade Administration on the freedom of import and export and the application of import suspension measures.

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