Algeria recently adopted a law prohibiting all activities related to crypto, from use to mining, reports BFM TV.
While most of the world goes towards increasing the encribation of the crypto, some countries remain very skeptical according to this property class.
Algeria recently adopted a law prohibiting all projects associated with crypto.
Based on the Law passed on 24. July, relating to the prevention and combat of money laundering and terrorist financing, is prohibited “broadcasting, purchase or sale” cryptovalut. They cannot be used as a means of payment, recognized currency or investment instrument. The mining of the crypto, also is prohibited.
Algeria threatens up to one year in prison, as well as a fine ranging from 1,330 to 6,600 euros if they violate the law.
This entirely relates to the entire crypto ecosystem and further tightens the law from 2018. year, which prohibits purchase, sales, use and possession of virtual currencies, but without more precise definitions.
The decision of Algeria is against the trend of a more positive approach of states towards cryptovaluts, especially after the arrival of the US President Donald Trump in the White House.
Some countries that previously baned crypto, such as Pakistan and Vietnam, are now opening according to this class class. They are currently working to establish appropriate regulations. Despite the decentralized nature of the crypto, especially the botchone since its inception in 2009. years, some countries continue to punish their possession.
Among them are Egypt, Bolivia, Afghanistan, Bangladesh and Iraq.
Other countries, such as China, Morocco and Nepal, limit the use of crypto, but did not introduce a complete prohibition of their use or mining by law.
