Following a high-level proposal in July to ban the importation of all cryptocurrency mining equipment into Vietnam, the Vietnamese Customs Department has announced a total ban on all mining rig imports, according to a local news outlet.The ban comes at a time when the country is dealing with the fallout of July's Sky Mining scandal, which saw the CEO of a crypto mining firm abscond with more than $35 million in company and investor funds.Zero Tolerance StanceAccording to data from the Ho Chi Minh City Customs Department, crypto mining equipment imports were shuttered by officials in July 2018. Before the restriction, private individuals and firms in the country brought in more than 3,664 mining rigs between January and June. These imports mostly consisted of Bitmain's Antminer ASIC rigs.Last year, more than 7,000 mining rigs were imported into the country despite the government's noted anti-crypto stance. Following the Sky Mining scandal last month, however, local Vietnamese news outlets report that the Vietnamese Customs Department almost instantly imposed total import restrictions on miners, indicating that the government's negative stance on crypto has morphed into open restriction.Government RegulationPrior to the policy change, Vietnam's government had a reputation for being unwilling to regulate the cryptocurrency industry, bluntly declaring last year that bitcoin and other cryptocurrencies are no...
