An announcement made by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a news presented in the local Chinese media on April 20th, the Chinese Embassy in Angola reminded of the ban on cryptocurrency mining in the Republic of Angola, located in the southwest of the African continent.
Angola, the third largest oil producer in Africa, was once China’s leading oil supplier. Some of the mining companies in China had moved to Angola after mining was banned in the country.
Angola enacted a law on April 10th regarding the banning of 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 imprisonment from 1 to 12 years.
