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Tag: Vietnam

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds after Citing Low Profitability and Rising Expenses

Category: Crime, Mining, News

Cryptocurrency Mining Firm Founder Swindles $35 Million of Investor Funds after Citing Low Profitability and Rising Expenses

The founder of a Vietnamese cryptocurrency firm has allegedly fled after swindling investors to the tune of millions, as reported by VNExpress on July 29, 2018. Millions Stolen Investors and board members of the Ho Chi Minh City-based mining company, Sky Mining, are claiming to be victims of a fraud case after the company’s founder, Le Minh Tam, went missing…

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Vietnam’s State Securities Commission Bans Crypto-Related Activities

Category: Altcoins, Bitcoin, News, Regulation

Vietnam’s State Securities Commission Bans Crypto-Related Activities

Vietnam’s State Securities Commission has prohibited companies from issuing, transacting, or brokering related to digital tokens. The ban follows a previous directive that urged monitoring agencies to scrutinize crypto asset activities. Vietnam Government Hostile toward Crypto Industry While many countries across the world are trying to regulate the budding field of crypto assets, there are still some who are very…

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Vietnam “Temporarily Suspends” Import of Cryptocurrency Miners

Category: Altcoins, Bitcoin, Mining, News

Vietnam “Temporarily Suspends” Import of Cryptocurrency Miners

The cryptocurrency industry in Vietnam is going through a rough phase. More than two months after a big scam scandal gotten the attention of the country’s government, the Vietnamese Central Bank is now following the government recommendations and has agreed shut down all support for cryptocurrency mining equipment imports. Vietnam’s Anti-Mining Stace In April 2018, a big scam affected dozens…

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Vietnamese Authorities Propose Embargo on Importation of Bitcoin Mining Equipment

Category: Altcoins, Bitcoin, Ethereum, Mining, News

Vietnamese Authorities Propose Embargo on Importation of Bitcoin Mining Equipment

While the Vietnamese crypto space has remained somewhat vibrant in recent times despite the warnings and efforts of the governments to crush the local digital currency industry, it appears the situation is about to get even worse for crypto investors in the region as authorities have proposed to ban the importation of bitcoin mining machines into the Asian nation. Miners…

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Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

Category: Blockchain, Business, News, Regulation

Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

The Vietnamese market is under the eye of the government as of late due to a scam which saw a reported VND 150 trillion ($650 million) stolen from local Vietnamese investors on April 8, 2018. Rallying All the Ministries Around New Crypto Directive The Vietnamese firm responsible had its office raided in Ho Chi Minh City on Sunday, April 8th,…

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Vietnam’s Mining Craze: Total Number of Imported Mining Rigs in 2017 Exceeded

Category: Altcoins, Mining, News, Tech

Vietnam’s Mining Craze: Total Number of Imported Mining Rigs in 2017 Exceeded

In the first three weeks of 2018, Vietnam has imported a higher number of mining rigs than it had over the duration of 2017. Vietnam is emerging as a major mining nation, alongside South Korea, as statistics from Ho Chi Minh City reveal. The latest Customs Department figures show that almost 8,000 mining rigs were imported  in January 2018 alone….

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Many Vietnamese Businesses Still Accepting Bitcoin Payments Despite Government Warning

Category: Bitcoin, Business, News, Regulation

Many Vietnamese Businesses Still Accepting Bitcoin Payments Despite Government Warning

The Vietnamese government seems to be struggling to enforce its crackdown on bitcoin transactions and activity. According to reports, many business establishments including restaurants and cafes are still accepting the digital currency for payments despite government warnings. Active Bitcoin ATMs Expectedly, the government is not taking kindly to these reports and has launched an investigation to book the violators. A…

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Vietnamese Prime Minister Moves to Legalize Bitcoin

Category: Bitcoin, News, Regulation

Vietnamese Prime Minister Moves to Legalize Bitcoin

Vietnamese Prime minister approves plan to reevaluate the legal charter for the use of cryptocurrencies, such as bitcoin, in Vietnam. On August 25, VNA reported that Prime Minister Nguyen Xuan Phuc has charged the country’s relevant ministries to reassess its status in regards to cryptocurrencies. This signifies a legislative turn of heart that could soon legally recognize cryptocurrencies in Vietnam….

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