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Charging the commercial electricity price for Bitcoin mining operations

Tài Giỏi

This is the highlight of the Official Dispatch No. 1402/BCT-DTDL of the Ministry of Industry and Trade on provision of instructions for the electricity selling price for virtual currency decryption and mining activities.

According to this document, after considering the State Bank’s opinions on legality of virtual currency mining operations and the guide of the Ministry of Justice on the electricity price charged customers owning virtual currency mining blockchains, the Ministry of Industry and Trade gives the following instructions:

Decryption and mining of virtual currencies, such as Bitcoin, litecoin and ethereum and other equivalents are basically a type of service rendered by using algorithm to verify online transactions.

Therefore, electricity used for such operations will be charged the commercial electricity retailing price.

For more details, please read the Official Dispatch No. 1402/BCT-DTDL dated February 22, 2018.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

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