In an unexpected move, Angola has implemented a law prohibiting cryptocurrency mining, following China's stance on virtual currencies. The Chinese Embassy highlighted Angola's new law, which makes cryptocurrency mining a criminal offense carrying prison sentences ranging from 1 to 12 years.

Angola, known as Africa's third-largest oil producer and once a major crude oil supplier to China, has experienced a surge in Chinese miners engaging in Bitcoin mining activities. However, the recent law imposes severe penalties for those involved in such activities.

The law specifies that possessing equipment used for virtual currency mining will result in imprisonment of one to five years, along with confiscation of the equipment. Furthermore, engaging in cryptocurrency mining independently or through others, as well as connecting mining equipment to the national power grid, will result in sentences of 3 to 12 years in prison. Additionally, misusing energy facility licenses for these purposes will lead to imprisonment ranging from 3 to 8 years.

China, which has already banned virtual currency transactions, asserts that cryptocurrencies lack the legal status of legal tender and deems engaging in cryptocurrency-related businesses as illegal financial behavior. The Angolan government, under pressure from China, has followed suit. In the past year, several Chinese nationals in Angola have faced legal consequences for suspected cryptocurrency mining and unauthorized electricity usage.

In conclusion, Angola's ban on Bitcoin mining, mirroring China's stance, underscores the global trend of regulatory crackdowns on cryptocurrencies. This move highlights the increasing scrutiny and regulatory challenges faced by the cryptocurrency industry worldwide.