In a sweeping crackdown on digital currencies, Algeria has officially imposed a total ban on the use, holding, buying, and trading of cryptocurrencies within its borders. Under the newly enforced legislation, individuals found guilty of violating this law now risk facing up to one year in prison and a fine of 2 million dinars (approximately $7,700).
The government cites concerns over money laundering, terrorism financing, and lack of regulation as the primary reasons for the ban. Algeria has long maintained a cautious stance toward crypto, but this move now formalizes its prohibition and intensifies penalties. The law also criminalizes any activity that encourages or facilitates crypto use, an indication of the government’s intent to clamp down hard on digital financial alternatives.
This development places Algeria at odds with many other African nations exploring crypto innovation to solve payment challenges. While countries like Nigeria, Kenya, and South Africa are pushing toward frameworks that support Web3 and blockchain startups, Algeria’s hardline position could limit fintech innovation and isolate local users from emerging global financial systems.
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