The Algerian government has enacted a law that prohibits all cryptocurrency activities, including trading, ownership, and mining. This legislation, implemented on July 24th, expands the country's previous 2018 Financial Law, which only restricted holding and exchanging cryptocurrencies but did not address mining. The new provisions target all potential crypto-related actions, including issuance, promotion, and trading services, framing the ban as a measure to combat financial crime. Violations of the law can result in prison sentences ranging from two months to a year and fines between 200,000 and 1 million dinars (approximately $1,500 to $7,700). This move sets Algeria apart from many other countries that are liberalizing their stance on crypto, as even nations like China are reconsidering their previous hardline policies. Experts suggest that outright bans are ineffective, often driving crypto activities underground and complicating enforcement efforts for law enforcement agencies.

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