Angola’s National Bank has recently issued a warning against the mining, selling, and buying of Bitcoin and other cryptocurrencies. The African nation has joined a growing list of countries that have imposed bans on cryptocurrency due to its potential threats to local economies and national security. The bank, Banco Nacional de Angola (BNA), justified the ban by stating that cryptocurrencies are not legal tender in the country and do not comply with the principles and rules of the Angolan financial system.
This ban comes amidst the global surge in cryptocurrency popularity and value. The BNA has warned that anyone involved in cryptocurrency transactions is doing so at their own risk and will not be protected by law in case of any loss. This move has sparked a debate on the future of cryptocurrency in Africa and its potential implications on the continent’s financial systems. Despite this, some African nations such as South Africa and Nigeria are embracing the cryptocurrency revolution, highlighting the contrasting viewpoints on the matter across the continent.
