The Algerian government has amended its 2018 Financial Law to explicitly ban all cryptocurrency-related activities, including trading, ownership, mining, issuance, and promotion. The law, enacted on July 24, extends the scope of the 2005 legislation on Preventing Money Laundering and Financing Terrorism, with penalties ranging from fines (200,000–1 million dinars) to prison sentences (2–12 months). Despite the ban, Algeria ranks as the 6th-largest crypto market in the Middle East and North Africa, highlighting the ineffectiveness of such restrictions. Experts from Chainalysis and TRM Labs argue that broad-based bans drive crypto activity underground, making illicit transactions harder to track. Instead, they advocate for regulated frameworks to ensure transparency and consumer protection while fostering innovation.
about Algeria Expands Crypto Ban Amid Global Liberalization Trend
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Generated 0 posts last week Algeria Bans All Crypto Activities: Harshest Crackdown in Africa
Algeria has imposed a comprehensive ban on all cryptocurrency activities, including trading, mining, and promotion, marking one of Africa’s harshest crackdowns on digital assets. The legislation, passed on July 24, expands punishable offenses to include crypto transactions, ownership, and mining, with penalties ranging from two months to a year in prison and fines up to $7,700. Officials justify the ban by citing concerns over money laundering, tax evasion, and illicit transactions, aligning Algeria with countries like China that enforce outright bans rather than regulatory frameworks. This contrasts with global trends where regions like the EU and US are integrating crypto into mainstream finance through regulation.
about Algeria Bans All Crypto Activities: Harshest Crackdown in AfricaTrump Unveils New Tariffs on Key Trading Partners
President Donald Trump has rolled out a fresh wave of tariffs on imports from Algeria, Libya, Iraq, Sri Lanka, Brunei, Moldova, and the Philippines, with rates ranging from 20% to 30%. The updated tariffs, set to take effect in August, reflect minor adjustments from initial proposals—such as reductions for Iraq and Sri Lanka. Trump began notifying affected countries earlier this week, emphasizing his administration’s push for trade concessions. The announcement follows a deadline for negotiations, with additional tariff details expected later in the day. Trade expert Brett Bruen weighs in on the implications of these measures.
about Trump Unveils New Tariffs on Key Trading PartnersChina’s Crypto Regulations and Their Global Influence on Legislation
China has intensified its crackdown on cryptocurrency, implementing stringent regulations that require banks to monitor and report cross-border crypto transactions, labeling them as risky financial activities. This ongoing hostility towards digital assets has led many crypto firms to relocate, while other countries like Turkey and Egypt have also enacted their own bans, indicating that China is not necessarily a role model but rather learning from global experiences in crypto regulation.
about China's Crypto Regulations and Their Global Influence on Legislation