Algeria Enacts Sweeping Crypto Ban, Criminalizing All Digital Asset Activity Under New Law
- Algeria has outlawed its entire cryptocurrency ecosystem with the introduction of Article 6 bis.
- The government claims the ban is necessary to protect the Algerian Dinar and prevent money laundering and fraud.
- The revised law explicitly bans creating, trading, using, holding, promoting, operating platforms, and mining cryptocurrencies.
Algeria's stringent ban on cryptocurrencies reflects a fear of financial innovation and a desire for control over the economy, potentially stifling technological advancement and pushing users towards underground markets. This approach may isolate Algeria from global financial trends and hinder its economic development in the long run.
