The National Assembly banned yesterday(28) the exercise of mining activities in cryptocurrencies throughout the national territory and the professional services associated with them, as well as delimiting the circulation of virtual currencies not issued by central banks, whose transactions take place between economic agents in the national territory.
The prohibition was at the 4th Extraordinary Plenary Meeting, referring to the 2nd Legislative Session of the V Legislature of the National Assembly, the deputies also approved, by global final vote, the Law on the Mining of Cryptocurrencies and Other Virtual Assets.
The diploma, which received 104 votes in favor, two against and 71 abstentions, will prohibit the exercise of cryptocurrency mining activities throughout the national territory and the professional services associated with them, as well as limit the circulation of virtual currencies not issued by central banks, whose transactions take place between economic agents in the national territory.
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João Mpilamosi, from MPLA, said that his political group considered it important and advised to mitigate the negative effects that are being debated in global financial systems, with the phenomenon of mining, circulation and transaction of cryptocurrencies outside the control of the sovereignties of States and their banks environmental issues, which has increased the real risk of money laundering and terrorist financing.
The practice, he said, brings with it environmental consequences, as a result of the high energy consumption of cryptocurrency mining factories or farms, causing consequences for national energy security.
For her part, UNITA deputy Navita Ngolo made it known that her party abstained as she understands that legislating on Cryptocurrency Mining “is a complex challenge” due to the decentralized and global nature of these technologies, which requires a clear understanding of the technology behind digital currencies.
