An announcement by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a news presented in the local Chinese press on April 20th, the Chinese Embassy in Angola, located in the southwest region of the African continent, reminded of Angola’s ban on cryptocurrency mining.
Angola, the third largest oil producer in Africa, was once the leading petroleum supplier to China. Some mining firms in China had moved to Angola after mining was banned in the country.
Angola enacted a law on April 10th prohibiting mining of cryptocurrencies and other virtual assets. With this law, cryptocurrency mining is now considered a crime in the country.
According to the news, those engaging in illegal mining could face imprisonment for 1 to 12 years.
