Algeria -- Regulatory Status Regulatory Overview

Algeria has maintained one of the strictest stances on cryptocurrencies and virtual assets globally, imposing an outright ban on their use, trading, and holding.

Here's a detailed breakdown:

Regulatory Approach

Algeria's regulatory approach is one of an outright ban. It prohibits the purchase, sale, use, and holding of cryptocurrencies and other virtual assets, considering them illegal and unregulated. This is a comprehensive prohibition rather than a partial regulation or a lack of regulation.

Primary Regulatory Bodies

The ban was enacted through legislative action, with the People's National Assembly and the Council of the Nation (Algerian Parliament) passing the relevant law.

• Ministry of Finance: Responsible for proposing financial legislation and overseeing its implementation.
• Banque d'Algérie (Central Bank of Algeria): While the ban itself is legislated, the central bank is the primary financial regulator and would be responsible for ensuring compliance within the financial sector. Its stance aligns with the government's prohibition.

Key Legislation Names and Dates

The core of Algeria's crypto ban is stipulated in:

• Loi n° 18-10 du 24 Chaoual 1439 correspondant au 8 juillet 2018 portant loi de finances complémentaire pour 2018 (Law No. 18-10 of 24 Shawwal 1439 corresponding to July 8, 2018, relating to the Supplementary Finance Law for 2018).

Specifically, Article 117 of this law states:

"Any purchase, sale, use or holding of so-called virtual currency is prohibited. Any breach of this provision shall expose its perpetrators to the penalties provided for by the laws and regulations in force."

This article explicitly criminalized all activities related to virtual currencies.

Current Stance on Crypto Trading and Exchanges

• Crypto Trading: Prohibited. Engaging in any form of buying, selling, or exchanging cryptocurrencies is illegal.
• Crypto Exchanges: No legal crypto exchanges are permitted to operate within Algeria. Any platform facilitating crypto trading would be in violation of the law.
• Mining: While not explicitly mentioned separately, the "use or holding" clause is generally interpreted to include mining activities, making them effectively illegal as well.
• Holding: Even merely possessing virtual currencies is deemed illegal under Article 117.

URLs and References

• Banque d'Algérie (Central Bank of Algeria) Official Website:

  • https://www.bank-of-algeria.dz/ (While the central bank's website may not have a dedicated page in English explicitly stating the ban, its regulatory framework operates within the confines of the national laws, including the finance law that prohibits crypto).

• Journal Officiel de la République Algérienne Démocratique et Populaire (Official Gazette of the People's Democratic Republic of Algeria):

  • The full text of Loi n° 18-10 du 8 juillet 2018 would be published here. Accessing specific archived issues can be challenging, but it can often be found in legal databases or historical archives of the Journal Officiel. An example of where it would have been published:
  • Journal Officiel n° 42 du 11 juillet 2018 (Official Gazette No. 42 of July 11, 2018).
  • A reference to the official text can be found through legal research platforms, e.g., via the Algerian Ministry of Finance website or dedicated legal publishers, but a direct link to the specific article in the archived Official Gazette is often not publicly available or stable.

In summary: Algeria maintains a clear and strict prohibition on all activities related to cryptocurrencies and virtual assets, backed by specific legislation from 2018. There have been no significant changes to this stance, meaning crypto remains illegal in the country.