Crypto mining now punishable by law in Angola

Angola enforced a new rule on April 10, the "Law on the Prohibition of Cryptocurrency and Other Virtual Asset Mining," which has turned the tables on crypto enthusiasts. Under this rule, using your computer to mine cryptocurrencies now carries legal consequences, ranging from one year to a maximum of twelve years in prison.

Heavy Hand on High Tech

Dig deeper, and it gets even worse for the tech heads. Owning any equipment that smells like crypto mining? That's up to five years behind bars for you, and say goodbye to your tech toys because they're being seized. If you're rigging up that equipment to the national power grid, brace yourself for up to twelve years in jail. And for those playing it sneaky with a power facility license, you're looking at three to eight years in a cell.

Angola's government reminded citizens that crypto mining is a heavy hitter in the power game. These mining machines are sucking up tons of electricity. The result is a massive spike in energy use and carbon emissions that disrupts industrial power supplies and could knock the stability of the entire national grid. But that's not all. It disrupts everything from public interest to social and economic development, making it a no-go for energy conservation and environmental protection efforts.
Cross-Border Crackdown

Shift your gaze to China, and you see they've technically shut the door completely on cryptocurrency transactions. They stated that these digital assets don't stack up to real cash in legal tender terms, and engaging in them is considered illegal financial antics. Angola isn't pulling punches either. They've been rounding up several Chinese citizens since last year, busting them for illegal mining and even for tapping into power supplies without permission.

The Chinese Embassy in Angola is now on a mission to ensure that its citizens and businesses are not straying from the law, as reported by local media outlets. They're doling out some serious advice: Stick to the law, keep your electricity use legit, and stay away from any crypto dealings.

They're worried about the shaky ground under cryptocurrencies. They're volatile, lack real value, and are prone to manipulation. The embassy's also throwing a red flag on the flashy promises of "financial innovation" and quick riches, warning people to beware of scams disguised as investment opportunities.

Oh, and keep a tight grip on your personal and banking information, unless you want them misused. And for those thinking they can sneak around these regulations? Think again. Angola's making it clear. Mess with crypto, and you're in for a rough ride.