Share this article
Vietnam Inches Closer to Suspending Imports of Cryptocurrency Miners
The country's central bank has agreed to a proposed suspension of cryptocurrency miner imports, a local new source reported on Thursday.
By Wolfie Zhao
Updated Sep 13, 2021, 8:11 a.m. Published Jul 19, 2018, 12:00 p.m.
Vietnam has moved a step closer to halting cryptocurrency miner imports, a local new source reported on Thursday.
According to Viet Nam News, State Bank of Vietnam (SBV), the country's central bank, has now agreed to a proposed plan to halt imports of the specialized mining devices since the country has already banned the use of cryptocurrency as a payment method.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The decision is a response to a proposal from the Ministry of Industry and Trade (MoIT) last month.
The ministry said at the time that since cryptocurrency miners are currently not on the list of prohibited imports, it has become difficult for local authorities to enforce the current restrictions on cryptocurrencies.
The MoIT proposal also followed a request from the Ministry of Finance in May that argued for a temporary suspension, given a recent crackdown by local authorities' over an alleged $660 million cryptocurrency fraud.
According to a news report from Xinhua last month, Vietnam imported more than 6,300 application-specific integrated circuit (ASIC) devices – used to mine cryptocurrencies like bitcoin – in the first four months of 2018. Over the whole of 2017, over 9,300 crypto miners reportedly entered the country.
Most of the imports went to Ho Chi Minh City and the national capital Hanoi, the report added, citing data from the General Department of Vietnam Customs.
Vietnam port image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Weekend Sell-Off Hits EdgeX’s Nasdaq-Linked Perp as $13M in Longs Liquidated
A large short placed during off-hours sent EdgeX’s XYZ100 perpetual down nearly 4%, exposing risks in equity-index perps when traditional markets are closed.
What to know:
- A newly created wallet executed a short worth roughly $10 million on EdgeX’s Nasdaq 100–linked perpetual, triggering a rapid 3.5% price drop and a liquidation cascade across long positions.
- With U.S. equity markets closed, traders cannot hedge exposure to the Nasdaq, leaving equity-index perps more susceptible to large orders and thin liquidity.
- EdgeX processed about $167 billion in perp volume last month, underscoring how fast-growing crypto derivatives platforms are pushing into tokenized equities.
Top Stories
