A legislative amendment passed on July 24 criminalizes everything from trading and mining to holding or promoting cryptocurrencies like Bitcoin.
The move lands Algeria among a shrinking group of countries taking an outright prohibition approach—joining the likes of China—while most nations explore ways to integrate crypto under regulatory frameworks.
Despite previously ranking among the MENA region’s fastest-growing crypto economies, the Algerian government now sees the sector as a threat to financial and national stability. Officials cite risks tied to money laundering, tax evasion, and fraud, particularly targeting inexperienced users.
Violations carry tough penalties. Individuals found engaging in crypto-related activities could face jail time of up to one year and fines reaching over $7,500. The law also targets platforms, wallet providers, and crypto advertisers, effectively eliminating legal access across the board.
This blanket ban is designed to reinforce the country’s anti-money laundering and counter-terrorism measures—but critics argue it may stifle innovation in a region where digital adoption has been accelerating.
The post Algeria Just Banned All Crypto – Here’s What You Need to Know appeared first on Coindoo.
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