An announcement made by the Chinese Embassy has indicated that Angola has banned cryptocurrency mining.
According to a news article presented in local Chinese media on April 20th, the Chinese Embassy in Angola emphasized the ban on cryptocurrency mining in the Republic of Angola, situated in the southwest region of the African continent.
Angola, the third largest oil producer in Africa, was once a leading oil supplier to China. After mining was banned in the country, some mining companies in China moved to Angola.
On April 10th, Angola implemented a law prohibiting mining of cryptocurrencies and other virtual assets. Cryptocurrency mining is now considered a criminal offense in the country.
According to the report, those engaging in illegal mining could face imprisonment ranging from 1 year to 12 years.
