It's possible - this article would be a good read for you - http://www.wallpaperonwalls.com/public/201.cfm

Here's an excerpt - "

Asbestos was used in Vinyl Wallpaper because it was cheap, lightweight, durable, and fire resistant..

In addition to being so cheap, asbestos was desirable because asbestos
is heat resistant, making your house safer from fire, though not making
it safe from asbestos exposure.

The problem link is when it is removed vinyl wallpaper asbestos exposure risks becomes very dangerous..

Vinyl wallpaper was just one of the thousands of products that
used asbestos, so if there is vinyl wallpaper in your home, you could be
at risk.
Vinyl wallpaper is one of the most common types of wallpapers because it
is easy for the homeowner to hang without professional help. In
addition, vinyl wallpaper is often more durable than other types of
wallpapers.

You're most likely to find vinyl wallpaper in your kitchen and bathroom, because this wallpaper holds up well even when wet.

Before the 1980s, many companies used asbestos in their products,
because asbestos was cheap, lightweight, durable, and flexible. Today,
we are still searching for all the products out there made with asbestos
and causing asbestos exposure.."

I oversaw some abatement projects in my former job, but it was always about paint and old floor tiles. I love that on this forum I learn something new everyday!