South Korea to Tighten Import Rules for Mining Chipsets

April 20, 2018

South Korean miners are likely to face huge problems soon. Along with cryptocurrency mining costing more than anywhere else there is a threat of mining hardware deficit.

As the data published by the Korean Customs Service (KCS) shows, chipsets for mining crypto were included to the list of items with import requiring compliance with legal regulations so that they have to get safety certificates. According to the message by Kyunghyang, the service has noticed increased import volume of mining chipsets and took measures to restrict it.

Figures prove that from November to December 2017 454 mining chips to the amount of $1.2 mln were imported to the country. Huge power consumption rates as well as waste product emission due to high temperature have made the agency being concerned over probable fire hazardous situations.

When importing chipsets for mining to South Korea the service will check them against compliance with actual standards for imported electric goods.

Note that earlier this month the police of South Korea has detained 14 persons who used cheap power sources at mining entities. The country has also initiated struggle with illegal mining recently especially in residential buildings.

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