๐ซ Breaking News Alert! ๐ซ
China declares crypto mining in Angola a crime, sending shockwaves through the global crypto community! ๐โ๏ธ The Chinese Embassy issues a stern warning to Bitcoin miners in Angola, urging them to halt operations immediately. ๐ท New legislation, dubbed the "Law on the Prohibition of Cryptocurrency and Other Virtual Asset Mining," has made crypto mining in Angola illegal, with penalties ranging from incarceration to hefty fines. โ๏ธ๐ฐ
Angola, Africa's seventh-largest country and a major oil producer, has seen a surge in Bitcoin mining activities since Chinese miners relocated there following China's own crypto ban in 2021. ๐ However, with the implementation of this new law, the future of crypto mining in Angola hangs in the balance. ๐ค๐ป
Bitcoin enthusiasts are reeling from the news, especially since Angola emerged as the eighth-largest center for Bitcoin mining operations in late 2023. โ๏ธ๐ The ban on mining not only spells trouble for the crypto community but also raises concerns about energy consumption and electricity supply in the country. ๐ก๐ฅ
As China continues its crackdown on all things crypto, the global landscape of digital currencies faces unprecedented challenges. ๐จ๐ณ๐ผ Stay tuned for further developments as the crypto saga unfolds! ๐๐ #CryptoBan #BitcoinMining #ChinaCrackdown ๐ทโก
