Algeria Expands Cryptocurrency Ban to Include Ownership and Mining

Algeria has enacted sweeping restrictions against cryptocurrency activities, broadening its 2018 Financial Law to outlaw trading, holding, and mining digital assets. The updated legislation, effective July 24, amends the country’s anti-money laundering framework and imposes penalties ranging from fines up to 1 million dinars ($7,700) to one-year prison terms.

The move starkly contrasts with global trends toward crypto liberalization, as jurisdictions from Dubai to Miami embrace digital asset innovation. Analysts question the enforceability of blanket prohibitions, noting the pseudonymous nature of blockchain transactions.

Notably absent from the Algerian market are major exchanges like Binance and Coinbase, which typically serve as on-ramps for retail crypto participation. The ban extends to promotional activities and service offerings, effectively creating a comprehensive prohibition regime.