Algeria’s Crypto Crackdown: A Comedy of Errors 🤹‍♂️💰

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Algeria, in a grand gesture of comedic regulation, has now turned the entire realm of cryptocurrency into a forbidden fruit, punishable by law, to safeguard the national financial system from the clutches of modernity.

Total Ban on Crypto Use and Platforms: The Great Cryptocurrency Capade

In a move that could only be described as a masterstroke of bureaucratic brilliance, Algeria has officially outlawed any form of cryptocurrency use, exchange, or mining. Ostensibly, this is to protect the national financial system from the nefarious activities of money launderers and terrorists, but one can’t help but wonder if the real aim is to keep the country’s financial landscape as quaint as a 17th-century village fair.

According to a report, the grand decree is encapsulated in Law No. 25-10 of July 24, 2025, published in the Official Journal No. 48. This monumental piece of legislation amends and supplements Law No. 05-01, which was previously tasked with preventing money laundering and the financing of terrorism. This shift, long in the making, transforms Algeria’s cautious whispers about digital assets into a thunderous ban, criminalizing all crypto-related activities within its borders.

Article 6a of the legislation, in all its splendor, prohibits the issuance, purchase, sale, possession, and promotion of digital currencies. It also outlaws the creation or operation of cryptocurrency trading platforms and the use of digital wallets, ensuring that no stone is left unturned in the quest to rid the nation of these digital pests.

These activities are now officially deemed financial offenses, directly linked to money laundering and illicit capital flows. The law defines crypto-assets as “property, income, funds, or financial assets,” effectively ensuring that there is no loophole large enough for even the smallest digital coin to slip through.

Crypto Mining Also Outlawed: The End of a Digital Gold Rush

The prohibition does not stop at mere transactions and possession; it extends to the very heart of the cryptocurrency ecosystem—the mining of digital gold. Despite being a relatively marginal activity in Algeria, crypto mining had seen a modest surge, particularly in the southern regions, where the low cost of electricity made it an enticing venture for the tech-savvy and the adventurous.

The new legal text, in its infinite wisdom, explicitly forbids the production, distribution, or promotion of any virtual currency, both in the digital realm and on Algerian soil. Thus, all relevant actors, from miners to traders, are now subject to the full force of the law.

Individuals caught in the act of using cryptocurrencies illegally face a range of penalties, including a prison sentence of two months to one year, a fine ranging from $1,530 to $7,653, or both, depending on the gravity of their offense. If the activities are linked to organized crime or broader financial crimes, the penalties can be significantly more severe, ensuring that the punishment fits the perceived crime.

Some “experts” argue that this legislative reform is designed to shield the Algerian financial market from the unpredictable and volatile nature of cryptocurrencies. Others suggest that it aligns with international standards, particularly those endorsed by the Financial Action Task Force (FATF). However, one can’t help but wonder if the real motive is to ensure that the only digital transactions taking place in Algeria are those approved by the state, keeping the financial landscape as orderly as a well-manicured garden.

The new law is expected to have a profound impact on the younger generation, who have been dabbling in platforms like Binance, OKX, or Bybit, often via the clandestine use of VPNs, or investing in mining equipment acquired through informal channels. Financial and security officials are gearing up to intensify digital and on-the-ground surveillance, working in tandem with the Bank of Algeria, the Banking Commission, and judicial bodies to enforce the new regulations.

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2025-07-30 23:38