An announcement made by the Chinese Embassy informed that Angola has banned cryptocurrency mining.
According to a news report presented on April 20th 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 of the African continent.
Angola, which is 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.
On April 10th, Angola enacted a law prohibiting mining activities related to cryptocurrencies and other virtual assets. With this law, cryptocurrency mining is now considered a crime in the country.
According to the news, those conducting illegal mining could face prison sentences ranging from 1 to 12 years.
