An announcement made by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a news report presented in the local Chinese media on April 20, the Chinese Embassy in Angola reminded of Angola Republic’s ban on cryptocurrency mining, located in the southwest part of the African continent.
Angola, Africa’s third largest oil producer, was once one of China’s leading oil suppliers. Some of the mining companies in China had moved to Angola after mining was banned in the country.
On April 10, Angola enacted a law banning mining for cryptocurrencies and other virtual assets. With this law, cryptocurrency mining is now considered a crime in the country.
According to the news, those engaged in illegal mining could face sentences ranging from 1 year to 12 years in prison.
