Algeria has passed an amended law to formally ban all activities related to cryptocurrencies, covering everything from holding and trading to mining and promotion. Law No. 25-10, promulgated on July 24, clearly prohibits the issuance, sale, purchase, holding, use and promotion of all cryptoassets, including bitcoin and USDT. The bill also criminalizes mining, the use of digital wallets and the operation of cryptocurrency exchanges.
The bill aims to strengthen the financial system's protection against crime and terrorism, align with international standards, implement the Financial Action Task Force guidelines, and should address the popularity of cryptocurrencies among youth groups and off-grid miners in the south. Under anti-money laundering and counter-terrorism financing laws, the use of cryptocurrencies is defined as a financial crime, and cryptoassets are classified uniformly, regardless of their use. Offenders will face two months to one year in prison, a fine of 200,000 to 1 million dinars, and heavier penalties if related to organized crime.
Algeria bans all cryptocurrency activities, and violators face imprisonment and fines
2025-07-29 15:38:45
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