An announcement by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a news report dated April 20th in the local Chinese press, the Chinese Embassy in Angola reminded of the ban on cryptocurrency mining in the Republic of Angola, situated in the southwest of the African continent.
Angola, which is the third-largest oil producer in Africa, used to be one of China’s leading suppliers of oil. 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 imposing a ban on mining of cryptocurrencies and other virtual assets. With this law, cryptocurrency mining is now considered a crime in the country.
According to the news report, those involved in illegal mining may face imprisonment of 1 to 12 years.
