Mining Firms to Make Chinese Unicorn List for First Time

"Unicorns" are private companies valued at over $1 000 000 000
19 July 2018   597

The Shanghai Hurun Research Institute has published a list of unicorn companies in Greater China (China, Hong Kong, Macao and Taiwan), which for the first time included representatives of the cryptocurrency industry. Thus, the list of major figure-makers in the list of major equipment Bitmain, Canaan Creative and Ebang. This is reported by Coindesk.

It is noteworthy that Bitmain took the 13th place with a capitalization of 70 billion yuan ($ 10.4 billion). Canaan was awarded with 32nd place with a capitalization of $ 3 billion, and Ebang closed the trio on 53rd place with a value of $ 1.5 billion.

Note that the media has already reported that all three companies intend to hold an IPO on the Hong Kong Stock Exchange (HKEX).

In May, the relevant application was filed by Canaan, and in July, followed by Ebang Communication. Jihan Wu previously stated that his company also considers the jurisdiction of Hong Kong, and potential investors may be Sequoia Capital and IDG Capital.

Vietnam to Ban Cryptocurrency Miners Import

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City
13 August 2018   103

After several months of thinking, the Vietnamese authorities approved a ban on import of crypto-currency mining equipment, CCN reports.

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City. Representatives of the ministry said on Monday that in the first half of 2018, 3 664 devices for mining were imported to the country. 3 000 of wentfell on four enterprises, while the remaining devices were imported by individuals and companies that did not provide their tax code. Most of the devices turned are Antminer miners.

The Ministry of Finance of Vietnam for the first time proposed to ban the import of equipment for mining in June, after the authorities decided to tighten control over the cryptocurrency sector against the backdrop of the spread of fraudulent schemes. 

The Ministry of Finance demanded that state structures strengthen control over the import and use of equipment for the mining of cryptocurrencies. In July, the central bank of Vietnam agreed to support the proposal of the Ministry of Finance.

The Ho Chi Minh City Customs Authority reports that in 2017 9,300 ASIC devices were imported into the country. Cryptocurrency is not allowed for use in Vietnam. The central bank of the country refused to include it in the list of non-monetary payment means, which include checks, payment orders and bank cards. Violators of the law, including among ordinary users, face a fine of up to $ 9,000.