An announcement by the Chinese Embassy stated that Angola has banned cryptocurrency mining.
According to a report presented in the local Chinese media on April 20, the Chinese Embassy in Angola reminded that the Republic of Angola, located in the southwest of the African continent, banned cryptocurrency mining.
Angola, the third largest oil producer in Africa, was once one of China’s leading oil suppliers. Some mining companies in China had moved to Angola after mining was banned in the country.
On April 10, Angola enacted a law banning mining of cryptocurrencies and other virtual assets. With this law, cryptocurrency mining is now considered a crime in the country.
According to the report, those engaged in illegal mining could face imprisonment from 1 to 12 years.
