Algeria has criminalized all crypto-related activities, including mining and trading.
Offenders face prison sentences and heavy fines under the new law.
The legislation aims to protect the financial system and aligns with global anti-money laundering standards.
Even when they ban cryptocurrencies, scams and various financial crimes will still occur in the country, so why do they ban cryptocurrencies? is it true to tackle financial crime or does it cover up their inability to tackle the problem, and make cryptocurrency a scapegoat? but it's funny that while other countries have begun to think about establishing a clear regulatory framework for cryptocurrencies, Algeria has gone so far as to ban it and even impose severe penalties that it just doesn't make sense.