South Korea Begins to Restrict Crypto Mining Chip Import

[bojokusugih]

Chip Crypto Mining will be limited, For Cryptocurrency miners in South Korea may find it difficult to get mining chips imported into the country.

According to data released by the Korea Customs Service (KCS) on Wednesday, the cryptocurrency mining chip has been added to the list of items that must meet certain importing legal requirements, such as safety and sanitation certification.

The new measure comes after the border control agency noted an increase in the number of cryptocurrency miners imported into South Korea, according to a report from local media outlet Kyunghyang yesterday.

For example, in November and December 2017 last year, KCS noted there were 454 chip imports of mining with an estimated value of 1.3 billion Korean won ($ 1.2 million).

significant electricity consumption and associated heating byproducts, the use of mining raises concerns, whether it can bring about the possibility of a fire.

The Agency will look at the security issues surrounding the imported foreign miners under existing radio laws, as well as the safety requirements for electronic goods issued by the National Radio Research Agency - a government agency that sets standards for related regulations.

Improved technical oversight at the time of the public and private sectors in South Korea has ceased to engage in illegal mining activities, especially in the public sphere due to concerns about high electricity consumption and the risk of fire.

[jmigdlc99]

Interesting bit of news. Can you cite your source for this?

I don't see how or why they would categorize "illegal mining activities" in South Korea. Does this mean that there is such a thing as "legal" mining? Nevertheless, if this news turns out to be true it probably would have little repercussions for us mining elsewhere since they only talked about imports being blocked. Business as usual for everywhere else, i think.

[jpnl0003]

just about when i started considering the crypto mining business and thinking of having mentors in the south korean region, they have strted restrictions on mining chip import.

[Geraldo]

And "illegal" thing in this forum is plagiarism or copy paste. OP has copying article from Coindesk without written the source of the article (you were doing wrong, Dude). Here is the link to the original article:

https://www.coindesk.com/south-korea-to-toughen-inspection-on-crypto-mining-chips-imposouth-korea-to-toughen-inspections-of-crypto-mining-chip-importsrt/


May I need to quote your post.

Chip Crypto Mining will be limited, For Cryptocurrency miners in South Korea may find it difficult to get mining chips imported into the country.

According to data released by the Korea Customs Service (KCS) on Wednesday, the cryptocurrency mining chip has been added to the list of items that must meet certain importing legal requirements, such as safety and sanitation certification.

The new measure comes after the border control agency noted an increase in the number of cryptocurrency miners imported into South Korea, according to a report from local media outlet Kyunghyang yesterday.

For example, in November and December 2017 last year, KCS noted there were 454 chip imports of mining with an estimated value of 1.3 billion Korean won ($ 1.2 million).

significant electricity consumption and associated heating byproducts, the use of mining raises concerns, whether it can bring about the possibility of a fire.

The Agency will look at the security issues surrounding the imported foreign miners under existing radio laws, as well as the safety requirements for electronic goods issued by the National Radio Research Agency - a government agency that sets standards for related regulations.

Improved technical oversight at the time of the public and private sectors in South Korea has ceased to engage in illegal mining activities, especially in the public sphere due to concerns about high electricity consumption and the risk of fire.