Algeria bans crypto use, exchange and mining of the digital asset
This isn’t the North African country's first attempt to clamp down on crypto.
While many African nations are trying to ride the crypto wave, regulating rather than resisting it, Algeria is taking the exact opposite route. In a move that feels more like slamming the brakes than tapping them, the country has introduced a sweeping law that criminalises virtually everything to do with crypto.
Under the newly enacted Law No. 25-10, it’s now illegal to own, trade, mine, promote, or even use digital assets like Bitcoin or Tether in Algeria. The legislation, which came into effect on July 24, doesn’t just stop at banning popular cryptocurrencies. It also criminalises running exchanges, operating digital wallets, and mining, essentially cutting off all paths to participation in the crypto economy.
Violators face stiff penalties: up to one year in jail and fines of up to one million Algerian dinars (around $7,700). The law doesn’t make exceptions based on intent, whether you're investing, remitting money, or just curious, crypto in any form is now treated as a financial crime under Algeria’s updated anti-money laundering and anti-terrorism framework.
Louis Eriakha
This isn’t Algeria’s first attempt to clamp down on crypto. A 2018 financial law already banned its use, but enforcement was minimal, and many people continued to trade via peer-to-peer platforms or VPNs. This new law, however, leaves little room for ambiguity and ramps up enforcement through judicial and financial authorities, including the Bank of Algeria. It’s a sharp contrast to the approach taken by countries like Nigeria. After an initial crackdown in 2021, Nigeria shifted gears and is now exploring central bank digital currencies and crypto-friendly regulations. Even Morocco, which banned crypto in 2017, is now drafting a framework to regulate it, recognising that users haven’t exactly gone away. Algeria, however, seems to be doubling down on isolation, even as youth-driven adoption and underground mining had begun to take off, especially in regions with cheap electricity. Whether this full-scale ban will work or simply drive activity further underground remains to be seen. As the rest of Africa wrestles with the question of how to manage digital assets, Algeria’s hardline stance stands out. But with crypto proving hard to kill, the real test will be whether this ban truly deters use, or just changes how it’s done.
Emmanuel Oyedeji
