Algeria bans all crypto activities

Algeria has officially banned all activities related to cryptocurrency - including ownership, trading, mining, and promotion, according to a report by Algerian news outlet Fibladi. It also criminalizes the use of digital wallets, crypto mining, and the operation of exchanges.

The new law has reportedly been enacted to counter money laundering and terrorism financing. The legislation also targets a surge in crypto use among tech-savvy youth and off-grid miners in southern Algeria, who benefit from the region’s low electricity costs.

Under the revised law, crypto assets are treated as financial instruments, placing them squarely within anti-money laundering and anti-terrorism legal frameworks. Authorities now classify them as “property, income, funds, or financial assets,” regardless of how they’re used.

Violators face prison terms of 2 months to 1 year and fines ranging from approximately $1,540 to $7,700. Those linked to organized crime or other illicit networks could face more severe penalties.

While Algeria tightens its grip on crypto, neighboring Morocco is moving in the opposite direction. The country’s central bank, Bank Al-Maghrib, is currently drafting legislation that could regulate crypto assets and potentially lift its own ban on their use.

Moroccan authorities are also exploring the development of a central bank digital currency (CBDC) to enhance financial inclusion and improve regulatory control over digital finance, according to Reuters.