Summary
- The Algerian government has officially announced a complete ban on all activities related to virtual assets.
- This measure encompasses everything, including the issuance, trading, holding, use, promotion, mining, and operation of exchanges involving virtual assets.
- It was stated that violators could face up to 1 year of imprisonment or be fined 1,000,000 dinars.
According to CryptoBriefing, a media outlet specializing in virtual assets (cryptocurrency), on the 29th (local time), the Algerian government has officially banned all activities related to virtual assets.
This measure includes any act such as the issuance, trading, holding, use, promotion, mining, and exchange operation of virtual assets, and violators may face up to 1 year of imprisonment or a fine of 1,000,000 dinars (approximately ₩9800000).
Local authorities reportedly made this decision citing concerns that virtual assets can be abused for money laundering and illegal transactions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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