An announcement made by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a news presented on April 20 in the local Chinese media, the Chinese Embassy in Angola reminded the ban on cryptocurrency mining in the Republic of Angola located in the southwest part of Africa.
Angola, being the third largest oil producer in Africa, 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.
Angola enacted a law on April 10 regarding the ban on miners 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 imprisonment from 1 to 12 years.
