In Algeria, Law No. 25-10 has officially come into effect, completely prohibiting any activities related to cryptocurrencies. From now on, crypto mining, trading, the creation or administration of trading platforms and digital wallets, as well as the use of virtual currencies are recognized as criminal offenses.
This is reported by Finway
Contents of the Law and Sanctions
The law, published in Official Gazette No. 48, explicitly prohibits the issuance, purchase, sale, storage, use, and advertising of crypto assets. Additionally, even the creation or administration of platforms and digital wallets for cryptocurrencies is banned. All these actions are considered financial crimes related to money laundering and illegal capital movement.
Cryptocurrencies, including Bitcoin and Tether, are defined in the law as “property, income, funds, or financial assets,” regardless of whether they are used for payments, investments, or savings. The ban also covers mining—the process of creating digital currencies using computational power.
Punishments and Additional Measures
Violations of the new rules are subject to criminal liability: imprisonment for a term of two months to one year, a fine ranging from 200,000 to 1,000,000 Algerian dinars (approximately $1500 to $7000), or both types of punishment simultaneously. In cases where the crimes are linked to organized financial schemes or terrorist activities, the sanctions may be intensified.
According to the document, these actions are now recognized as financial crimes related to money laundering and illegal capital movement.
The Algerian authorities emphasized that the implemented measures comply with international standards for combating money laundering, particularly the recommendations of the Financial Action Task Force (FATF). The government plans to strengthen both digital and physical control over the circulation of financial assets in cooperation with the Bank of Algeria, regulatory bodies, and the judiciary.
The legal reform aims to protect the financial system from the instability and anonymity of cryptocurrencies, which, according to lawmakers, are used for dubious operations. This will particularly affect the youth, who have circumvented previous bans using VPNs and have used cryptocurrency exchanges like Binance, OKX, or Bybit, or engaged in mining with illegally acquired equipment.
For reference: similar bans on cryptocurrency transactions are in place in Kuwait and Venezuela. Meanwhile, Bolivia has recently allowed banks to operate with cryptocurrency transactions.