To all Algerians, Algerian law prohibits dealing in cryptocurrencies. Is this the end of the discussion or is there more to say? Here are the latest news.
Algerian law prohibits dealing in cryptocurrencies, such as Bitcoin, and criminalizes it according to financial and monetary laws. Here are some points about this topic [1][2]:
- Criminalization: Trading in cryptocurrencies is considered a crime in Algeria and can lead to prison sentences and financial fines.
- Legal basis: This prohibition is based on Article 117 of the Currency and Loan Law, which states that "any transaction in foreign currencies not legally permitted is considered a crime."
- Penalties: Penalties can range from imprisonment for two to ten years, and fines ranging from 5 million dinars to 50 million dinars.
- Reason: The reason for this prohibition is the Algerian government's fears regarding the impact of cryptocurrencies on the national economy and control over financial flows.
Additional sources:
- More information on this topic can be found on "Al Jazeera Net" or "Echorouk Online".
