Algeria has imposed a sweeping ban on all crypto activities, officially criminalizing the use, possession, trading, mining, and promotion of digital assets such as Bitcoin.
The measure, enacted through a legislative amendment passed on July 24 and reported by local outlet Fibladi on July 28, marks one of the harshest crypto crackdowns in Africa.
According to a Chainalysis report, Algeria ranked among the top five fastest-growing crypto economies in the MENA region last year.
Algeria’s crypto ban
The new legislation expands the scope of punishable offenses to include crypto transactions, ownership, and mining.
The legislation also bans operating crypto exchanges, offering wallet services, and promoting digital asset products.
Officials argue that these activities pose significant risks to the country’s financial stability and national security. Lawmakers cited concerns over tax evasion, fraud, and using crypto for illicit transactions as core justifications for the ban.
Under the updated legal code, individuals caught engaging in crypto-related activities may face prison sentences ranging from two months to one year.
They also risk fines between 200,000 and 1 million Algerian dinars, equivalent to roughly $1,540 to $7,700. In more serious cases, authorities may impose both penalties.
Why Algeria banned crypto
According to the report, the new law is designed to strengthen Algeria’s anti-money laundering (AML) and counter-terrorism financing (CTF) framework.
Algerian officials reportedly argued that crypto activities pose significant risks to the country’s financial stability and national security. The lawmakers highlighted concerns over tax evasion, fraud, and using crypto for illicit transactions as core justifications for the ban.
Considering this, the Algerian government believes banning cryptocurrencies will help close regulatory loopholes and protect consumers, particularly inexperienced retail investors, from predatory schemes.
Meanwhile, this move positions Algeria among a small group of countries, including China, that have opted for outright bans instead of regulatory engagement with the crypto sector.
This contrasts sharply with global trends, where regions like the European Union, the United States, and parts of Asia are creating regulatory frameworks to integrate digital assets into mainstream finance.
The post Algeria criminalizes all crypto activities with sweeping ban appeared first on CryptoSlate.
