rime! 🇨🇳 The Chinese Embassy has issued a stern warning to Chinese Bitcoin miners in Angola, urging them to halt their operations immediately. Why? Angola has just passed a new law, slamming the door on cryptocurrency mining and labeling it a criminal offense. ⛏️ Under this tough legislation, engaging in crypto mining within Angola's borders can land offenders in prison for a staggering one to twelve years! 😱

🌍 Angola, the vibrant nation nestled on Africa's west-central coast, has emerged as a key player in the crypto crackdown. Despite being renowned as Africa's third-largest oil producer and a significant trading partner with China, Angola is now tightening its grip on the crypto landscape. 💼

💔 For Chinese miners who flocked to Angola after China's own crypto ban in 2021, this comes as a devastating blow. The bustling Bitcoin mining operations that once thrived in Angola are now facing extinction. 💥 And with Angola ranking as the eighth-largest Bitcoin mining hub globally in 2023, the impact on the crypto community is sure to reverberate far and wide. 🌐

🔌 But it's not just about the miners; Angola's electricity grid is feeling the strain too. The surge in Bitcoin mining activity has placed immense pressure on the nation's power supply, leaving residential areas in the dark. 💡 These energy woes have played a pivotal role in driving the government's decision to outlaw crypto mining altogether. ⚡

💼 China, a staunch opponent of cryptocurrencies, continues to flex its regulatory muscle, doubling down on its ban on virtual currency transactions. With a firm stance that cryptocurrencies lack legal status as tender and branding crypto-related businesses as illegal financial activities, China remains steadfast in its stance against the digital currency revolution. 💰🛑

The clash between governments and crypto enthusiasts rages on, reshaping the global financial landscape one regulation at a time. 🌎💥 #CryptoBan #China #Angola #BitcoinMining 🚫🇨🇳🛠️