Being a Bitcoin mining hardware manufacturer is not easy by any means. Serving customers all over the world is fulfilling, but it poses big challenges as well. In fact, some countries will not allow units to be shipped whatsoever. That appears to be the case in India, according to a recent tweet by Bitmain. It is a very unfortunate event which can be blamed on India’s government.
It is safe to assume India will become a very big Bitcoin hub at some point in the future. However, this will partially hinge on whether or not mining is a successful business. So far, that has not been proven whatsoever. Nor will we figure that out in the future, by the look of things. According to a tweet by Bitmain, the government will not allow importing of cryptocurrency mining equipment. This is a very disturbing development, but it’s also to be expected.
Bitmain no Longer Ships Hardware to India
More specifically, the firm claims the Directorate General of Foreign Trade under the Ministry of Commerce and Industry is responsible for this situation. Unless the DGFT provides a proper clarification, Bitcoin mining hardware cannot be imported. Indian customs authorities will simply send back any shipments without such clarification. It is an interesting situation, although it also creates an annoying precedent.
Hi! The Indian Custom authorities have informed us that they will not allow importation of cryptocurrency mining hardware unless they receive a clarification about it from the @dgftindia
So, we are currently not selling miners to India.— BITMAIN (@BITMAINtech) December 1, 2017
It is certainly possible other countries around the world will use a similar approach. Bitcoin mining hardware is controversial in a lot of regions. This isn’t good news for Bitmain, as they are the main consumer-grade manufacturer right now. Without them, there would be very little mining hardware in the hands of regular users. How this situation will evolve, remains a big question. It is evident India has no plans to change this ordeal anytime soon. They are still working on proper cryptocurrency regulation, after all.
Customs agencies all over the world are thrown for a loop when it comes to mining hardware. These powerful machines are heavy and may affect the local economy. with few countries having any active regulation, issues like these may become more common. There isn’t much Bitmain can do either, unfortunately. This is a very uneasy situation, yet it may only be the beginning of what is to come. Something will need to change in this regard, though. When and if that will happen, remains to be determined.
Header image courtesy of Shutterstock
