Algeria has enacted a law that explicitly criminalises any form of use, exchange, or mining of cryptocurrencies. Local media report this, citing the new document.
The initiative amends regulations aimed at combating terrorism and money laundering.
Now, the issuance, purchase, sale, possession, use, or promotion of digital assets is classified as a financial crime. The law prohibits the creation or management of cryptocurrency trading platforms, as well as the use of digital wallets through intermediaries and online services.
Under the new rules, crypto assets are classified as “property, income, funds, or financial assets,” regardless of their intended use.
Violations of the legislation are subject to penalties:
- imprisonment from two months to a year;
- a fine ranging from 200,000 to 1 million dinars (approximately $1500 to $7600);
- both penalties simultaneously, depending on the circumstances.
The punishment is more severe if cryptocurrency operations are linked to organised criminal activity.
Algerian agencies and law enforcement will enhance digital monitoring to detect and punish any suspicious activity.
Previously, the country restricted cryptocurrency circulation, but there were no direct penalties for its use.
In July, the head of the Russian financial market committee, Anatoly Aksakov, stated that the authorities intend to consider a bill introducing fines for paying for goods and services with cryptocurrency.
Furthermore, from January 1, 2025, to March 15, 2031, a ban on mining digital assets and participating in pools is in effect in certain regions of Russia. For some of them, the restrictions apply only during the autumn-winter period.