Algeria Enacts Sweeping Ban on All Crypto Activities Under New Law

Algeria has introduced stringent legislation criminalizing all cryptocurrency-related activities, including mining, trading, and possession. The law, part of the country's updated anti-money laundering framework, imposes severe penalties such as prison sentences and hefty fines.

The ban extends beyond transactions to encompass the operation of digital asset platforms, even those based online or managed through intermediaries. This MOVE aligns Algeria with global efforts to combat financial crimes but places it at odds with the growing adoption of cryptocurrencies worldwide.

Market observers note the decision could isolate Algeria's financial system from blockchain innovation. The law's broad scope leaves no room for crypto-related activities, reflecting a hardline stance against decentralized finance.