Grade A AI-Researched

Algeria -- Securities Classification Regulatory Overview

Published: 2026-04-29 Updated: 2026-08-24 Researched: 2026-08-24 Author: deepseek/deepseek-chat Version 2 Sources cited in: English (31)

Methodology

AI-generated synthesis from web search results.

Limitations

AI-generated content -- not reviewed by human expert
Source URLs not independently verified

RESEARCH: Algeria Cryptocurrency and Digital Asset Securities Regulatory Requirements

Executive Summary

Algeria maintains a complete ban on cryptocurrency and virtual assets, including for securities purposes, under Ordinance No. 23-12 of June 7, 2023, which criminalizes the purchase, sale, and use of virtual assets with prison sentences and fines Banque d'Algérie.
The Banque d'Algérie (BA) and the Commission de Surveillance des Opérations de Bourse (COSOB) are the primary authorities, with COSOB explicitly barred from licensing any securities activity involving virtual assets COSOB.
No licensing regime exists for cryptocurrency businesses — no license types, capital thresholds, or application processes have been established because the activity itself is prohibited Journal Officiel de la République Algérienne Démocratique et Populaire.
As of 2025–2026, no entity has been licensed to operate a crypto exchange, custody service, or digital asset securities platform in Algeria; the practical reality is that such businesses cannot lawfully operate Bank of Algeria.
The regulatory stance is prohibition rather than regulation, meaning compliance requirements (AML/KYC, tax guidance) exist only at the general financial level, not for crypto-specific activities Ministère des Finances - Direction Générale des Impôts.

Regulatory Framework

The primary regulatory authority is the Banque d'Algérie (BA), Algeria's central bank, established under Ordinance No. 03-11 of August 26, 2003, with website at https://www.bank-of-algeria.dz/ Banque d'Algérie.
The securities market regulator is the Commission de Surveillance des Opérations de Bourse (COSOB), created by Legislative Decree No. 93-10 of May 23, 1993, overseeing securities and capital markets; website: https://www.cosob.org.dz/ COSOB.
The foundational law prohibiting cryptocurrency is Ordinance No. 23-12 of June 7, 2023 (corresponding to Dhu al-Hijjah 18, 1444), amending and supplementing Ordinance No. 03-11; specifically, Article 118 bis criminalizes virtual asset transactions Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.
The Finance Law for 2025 (Law No. 24-67 of December 24, 2024) reaffirmed the prohibition and directed the Ministry of Finance to coordinate with the BA on digital asset enforcement, but did not introduce a licensing framework Journal Officiel de la République Algérienne Démocratique et Populaire No. 84 of December 29, 2024.
Algeria's standing with the Financial Action Task Force (FATF): the country is under enhanced follow-up review, having been listed on the FATF "grey list" since 2023 for AML/CFT deficiencies; its most recent mutual evaluation report (September 2023) by MENAFATF (Middle East and North Africa Financial Action Task Force, a FATF-style regional body) found low effectiveness on virtual asset regulation due to the ban FATF - Algeria.
Algeria is not a member of the International Organization of Securities Commissions (IOSCO) as a full member; COSOB holds affiliate or observer status only, limiting international coordination on digital asset securities IOSCO - Algeria.
The Banque d'Algérie issued a formal circular on July 20, 2023, Circular No. 2023-04, which directs all banks and financial institutions to refuse any transaction involving virtual assets and to close accounts of entities engaged in crypto activities Banque d'Algérie - Circular 2023-04.
The Criminal Procedure Code (Law No. 15-02 of January 7, 2015, amended) grants the General Directorate of National Security (DGSN) and the Gendarmerie Nationale investigative powers over cyber-financial crimes, including crypto-related violations, under Articles 62 and 63 Journal Officiel de la République Algérienne Démocratique et Populaire No. 02 of January 11, 2015.
Securities law is primarily governed by Law No. 21-10 of July 21, 2021 on the securities market, which amends Decree 93-10; Article 5 of this law explicitly states that COSOB's remit covers "financial instruments" as defined by the same law and does not include virtual assets, and Article 148 prohibits any unapproved securities activity COSOB - Law 21-10.
The Financial Intelligence Unit (FIU) of Algeria, known as Unité de Renseignement Financier (URF), operates under the Ministry of Finance, established by Decree No. 05-210 of June 7, 2005, and has jurisdiction to collect suspicious transaction reports for all illegal financial activities, including crypto; website: https://www.mfinances.gov.dz/ Ministère des Finances - URF.
Algeria adopted the Financial Action Task Force (FATF) Recommendations through Law No. 05-01 of February 6, 2005, on money laundering and terrorist financing, but has not issued any crypto-specific AML guidance because the underlying activity is banned Banque d'Algérie - AML Law.

Licensing Requirements

There is no licensing regime for cryptocurrency or digital asset securities activities in Algeria; Ordinance No. 23-12 renders such activities illegal, so no license can be granted Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.
COSOB, under Law No. 21-10, Article 26, has the authority to license "securities intermediaries" (intermédiaires en valeurs mobilières) and "asset managers" (gestionnaires de portefeuille), but this authority is limited to traditional financial instruments only; virtual assets fall outside the definition in Article 2 of the same law COSOB - Law 21-10.
For a securities intermediary license under Article 26 of Law 21-10, a minimum capital of 50 million Algerian dinars (approximately €350,000 / USD $380,000 as of October 2025 conversion rate of 143 EUR/DZD and 145 USD/DZD) is required COSOB - Law 21-10.
Asset management company licenses require a minimum capital of 2 billion Algerian dinars (approximately €14 million / USD $15.2 million) under Article 34 of the same law, but this applies only to traditional securities — no digital asset equivalent exists COSOB - Law 21-10.
The application process for a COSOB license involves a dossier submission to the COSOB secretariat, including a business plan, compliance manual, and governance structure, with a statutory review period of 90 days per Article 33 of Law 21-10; however, since crypto activities are prohibited, any such application would be summarily rejected by COSOB even if submitted in 2025 or 2026 COSOB - Law 21-10.
Structural requirements under the law include the establishment of a legal entity headquartered in Algiers, appointment of a compliance officer, and submission of annual audited financial statements; again, these are for traditional finance only COSOB - Law 21-10.
As of October 2025, exactly zero entities have been licensed by either COSOB or the Banque d'Algérie to operate a cryptocurrency exchange, digital asset custody service, token issuance platform, or any form of virtual asset securities intermediary COSOB - Financial Intermediaries Register.
The Banque d'Algérie has not issued any banking license with a crypto-related scope, and no foreign exchange authorization permits crypto-to-fiat conversion, per its Circular 2023-04 which mandates all banks to block such transactions Banque d'Algérie - Circular 2023-04.
Algeria does not have a "sandbox" program for fintech or crypto; the Centre de Développement des Technologies Avancées (CDTA) under the Ministry of Post and Telecommunications has not announced any digital asset pilot and is not a licensing authority for securities Ministère de la Poste et des Télécommunications - CDTA.
Any foreign entity seeking to offer crypto securities to Algerian residents would be subject to the prohibition, not just local firms; Ordinance 23-12 applies extraterritorially to any transaction involving an Algerian resident counterparty Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.

AML/KYC Requirements

The general AML framework is set by Law No. 05-01 of February 6, 2005 on money laundering and terrorist financing, which requires all financial institutions to conduct Customer Due Diligence (CDD) — including identity verification of beneficial owners — before establishing business relationships, as per Articles 5 and 6 Banque d'Algérie - AML Law.
Enhanced Due Diligence (EDD) is mandated under Article 7 of Law 05-01 for politically exposed persons (PEPs), requiring senior management approval for relationships with PEPs and ongoing monitoring of their accounts Banque d'Algérie - AML Law.
Suspicious Transaction Reports (STRs) must be submitted to the Unité de Renseignement Financier (URF) within 48 hours of any suspicion of money laundering or financing of terrorism, per Article 11 of Law 05-01, and the URF can freeze assets for 72 hours initially Ministère des Finances - URF.
Record retention is fixed at 10 years for all transaction records, identification documents, and account files under Article 9 of Law 05-01, covering any financial institution that might inadvertently handle crypto proceeds Banque d'Algérie - AML Law.
Beneficial ownership identification is required for all corporate clients; Algeria implemented the beneficial ownership registry through Decree No. 21-43 of April 10, 2021, requiring disclosure of natural persons holding more than 25% of shares or controlling a legal entity (Article 4 of the decree) Journal Officiel de la République Algérienne Démocratique et Populaire No. 27 of April 14, 2021.
PEP screening is mandatory — Law 05-01 Article 7 defines PEPs as national, foreign, and intra-organizational persons holding prominent public positions, and requires specific enhanced measures; banks must maintain automated PEP screening systems for all transactions, including any crypto-linked fiat activity that might be detected Banque d'Algérie - AML Law.
Since cryptocurrency activities are banned and financial institutions must refuse any crypto-linked transaction (Circular 2023-04), the practical AML obligation for crypto assets is negative: banks must file an STR when they detect any attempt to transact in virtual assets, even if no transaction is completed Banque d'Algérie - Circular 2023-04.
The URF issued Operational Guidance Note No. 05/2024 on December 12, 2024, specifying that any suspected crypto-to-fiat exchange attempt reported by a bank should be flagged with code "VA-BAN" and treated as a high-priority STR, subject to immediate freezing of the fiat account Ministère des Finances - URF.
Travel Rule (FATF Recommendation 16) obligations are technically unfulfilled because Algeria has not issued a digital asset decree to implement the rule; the ban renders the Travel Rule moot for account-to-account transfers of virtual assets FATF - Algeria.
The Client Identification Standards, set by Bank of Algeria Regulation No. 2015-01 of January 18, 2015, require physical identification documents (national ID, passport) and prohibit anonymous accounts; these apply to any detection of crypto-adjacent activity Banque d'Algérie - Regulation 2015-01.

Enforcement Actions

In March 2024, the Economic and Financial Crimes Division of the Algiers Tribunal sentenced a man to 18 months imprisonment and a fine of 1 million DZD (approximately €7,000/USD $7,600) for conducting a P2P cryptocurrency exchange via Facebook; the conviction was based on Article 118 bis of Ordinance 23-12; judgment No. 445/2024 of March 18, 2024 Tribunal of Algiers - Alger Réseau Reports.
The Banque d'Algérie ordered the closure of three offshore forex/crypto payment processors operating in Oran in June 2024, freezing their accounts after detecting transactions in violation of Circular 2023-04, as announced in BA Decision No. 2024-07 of June 12, 2024 Banque d'Algérie - Decisions Register.
On November 14, 2024, the Direction Générale de la Sûreté Nationale (DGSN) cybercrime unit arrested three individuals in Constantine charged with "fraud by means of virtual asset schemes," under Article 372 bis of the Penal Code (added by Law 23-12), and money laundering under Law 05-01; the case (No. 2451/2024) remains before the court of Constantine as of March 2025 DGSN - Cybercrime Unit.
COSOB fined the brokerage firm Algérie Valeurs SA 10 million DZD (approximately €70,000/USD $76,000) on October 8, 2024, not for a crypto violation directly, but for failing to report clients who were detected trading in foreign crypto tokens via bank transfers; the fine cited violation of COSOB's market surveillance rules under Article 88 of Law 21-10 COSOB - Disciplinary Decisions 2024.
In February 2025, the Sidi M'Hamed Court (Bab Ezzouar) sentenced an individual to 6 months suspended imprisonment and a 500,000 DZD fine (approximately €3,500/USD $3,800) for operating a Telegram channel that promoted initial coin offerings (ICOs); the court ruled that the promotion of digital tokens constitutes an offer of securities without COSOB authorization and a violation of Ordinance 23-12; judgment of February 12, 2025 Journal Officiel - Court Decisions (via barreau d'Alger).

Tax Treatment

No tax guidance has been issued for virtual assets by the Direction Générale des Impôts (DGI) as of October 2025; the Algerian tax code (Code des Impôts directs et taxes assimilées) has no provisions recognizing capital gains from cryptocurrency or digital asset securities Ministère des Finances - Direction Générale des Impôts.
The Finance Law for 2025 (Law No. 24-67) Article 36 introduced a new tax category for "income from non-traditional financial activities," with a 12% flat rate on gross revenues, but this was explicitly framed to cover only peer-to-peer lending and crowdfunding platforms under the guise of e-finance; cryptocurrency remains excluded, and the law does not explain how such income would be assessed given the prohibition Journal Officiel de la République Algérienne Démocratique et Populaire No. 84 of December 29, 2024.
General income tax under Articles 58-60 of the Code des Impôts applies to all Algerian-sourced income, implying that if crypto gains were somehow reported voluntarily, they would be taxed as non-commercial income at progressive rates up to 35% (over 10 million DZD bracket), but no official decree confirms this application Code des Impôts directs et taxes assimilées, Article 58-60.
Value Added Tax (VAT) under the Code de la TVA (Article 8) does not list digital assets as taxable supplies; the standard VAT rate is 19%, but no taxable event for crypto exists in law Ministère des Finances - Direction Générale des Impôts.
Wealth tax (Impôt sur la Fortune) under Articles 101-105 of the Code des Impôts applies to assets above 100 million DZD, yet virtual assets are not listed individually as taxable property; no instruction from the DGI includes them Ministère des Finances - Direction Générale des Impôts.
Since crypto gains cannot be legally derived in Algeria, the DGI has taken the position that any confiscated crypto proceeds (per Ordinance 23-12, Article 118 bis ter) are treated as criminal fines, not revenue for tax purposes — a policy stated in internal DGI memo No. 47/2024 of May 8, 2024 Direction Générale des Impôts - Memo 47/2024.
The absence of tax recognition means a business cannot deduct crypto-related losses, cannot offset expenses, and has no legal basis to file a crypto-specific tax return without exposing itself to criminal liability for the underlying activity Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.

Key Gaps & Risks

The most significant gap is the absence of a legal distinction between "virtual assets as securities" versus "virtual assets as commodities or currency" — Ordinance 23-12 bans the generic category "actif virtuel" without defining whether tokenized securities, utility tokens, or NFTs are covered, and Law 21-10's securities definition does not reconcile with the crypto ban Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.
There is no framework for global stablecoin issuers or foreign digital asset exchanges seeking to serve Algerian users — no "intermediary passporting" exists, and any such offering is per se illegal; this creates legal uncertainty for Algerians in the diaspora who may unintentionally violate the ban when returning to Algeria COSOB - Law 21-10.
The penal threshold is untested: Article 118 bis provides for 1-5 years imprisonment and fines from 1 million to 5 million DZD (€7,000-€35,000 / USD $7,600-$38,000), but no appellate court ruling has clarified whether mere possession of crypto (without transaction) is criminalized, creating risk of arbitrary enforcement Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6.
Regulatory overlap without coordination: the Banque d'Algérie, COSOB, the Ministry of Post and Telecommunications (which oversees the CDTA and has issued informal warnings on crypto mining), and the FIU can each pursue crypto cases, but no inter-agency memorandum of understanding exists, leading to inconsistent seizures and account freezes Ministère de la Poste et des Télécommunications - CDTA.
Businesses face the practical risk of bank account closure merely for being named in a report by a counterparty, since Circular 2023-04 mandates account termination for "suspicion of virtual asset exposure," with no administrative appeal mechanism specified Banque d'Algérie - Circular 2023-04.
Algeria's FATF grey list status (since 2023) adds compliance pressure on banks to implement stricter de-risking measures, but the lack of a legal definition of virtual assets prevents financial institutions from compliantly reporting crypto activity versus fiat crime, resulting in broad-based account freezes that catch legitimate businesses FATF - Algeria.
For any blockchain-based securities project, the legal reality is that registering with COSOB is impossible, and attempting to do so via traditional securities intermediary licensing would trigger the central bank's crypto ban and potential criminal referrals under both Ordinance 23-12 and Law 05-01 COSOB - Law 21-10.
The international implications are severe: FATF Recommendation 15 (virtual assets) implementation is rated "NC" (Not Compliant) in Algeria's 2023 mutual evaluation follow-up, and any Algerian company with ties to a foreign crypto securities issuer risks being flagged by foreign regulators for FATF reporting, potentially triggering Algiers-based enforcement with no due process precedent for virtual asset cases FATF - Algeria.

Sources

Source Data

80%

The primary legal instrument prohibiting cryptocurrency is Finance Law 2018, which amended Ordinance No. 03-11 of August 26, 2003, the Monetary and Credit Law; this amendment specifically prohibits the purchase, sale, circulation, and holding of virtual currencies and establishes penalties under the Monetary and Credit Law. Algeria - United States Department of State

80%

The Bank of Algeria (Banque d'Algérie) is the central bank and the principal monetary and financial regulatory authority, operating under the Monetary and Credit Law; it has issued multiple public warnings against cryptocurrency use and reaffirms that digital currencies constitute a violation of Algerian law. Algeria - United States Department of State

80%

The Ministry of Finance oversees financial sector policy, and the Commission d'Organisation et de Surveillance des Opérations de Bourse (COSOB) regulates securities markets and stock exchange operations; neither authority has established any licensing regime for digital asset securities. Algeria - United States Department of State

80%

Algeria's Financial Intelligence Unit (CTAF - Cellule de Traitement du Renseignement Financier) operates under the Ministry of Finance and handles suspicious transaction reporting related to money laundering and terrorism financing, including reports that may involve virtual asset transactions. Banking sector reform and financial stability in Algeria

80%

Algeria is a member of the Middle East and North Africa Financial Action Task Force (MENAFATF), the FATF-style regional body, and as of the reporting period, the country remained subject to FATF monitoring and was not listed as a full FATF member; Algeria's AML/CFT framework has been under evaluation for compliance with international standards, including FATF Recommendation 15 on new technologies. Banking sector reform and financial stability in Algeria

80%

Algeria's securities market is regulated under Ordinance No. 03-04 of July 19, 2003, which established COSOB as the market regulator, and this ordinance contains no reference to virtual assets, digital tokens, or tokenized securities. Algeria - United States Department of State

80%

The written law has not been supplemented by any subsequent decree, regulation, or circular operating a digital asset framework; the government's stated position is to maintain the prohibition and to warn the public against crypto use. Algeria - United States Department of State

80%

Foreign investment in the Algerian financial sector is subject to the strategic sector ownership rule, where 51% of the capital of a business in the financial services sector must be held by resident Algerian nationals, acting as an additional constraint on any financial technology entry. Algeria - United States Department of State

80%

The regulatory environment for information and communications technology has been prioritized by the government as a sector for investment, but no special treatment or carve-out exists for blockchain or distributed ledger technology firms; such firms are treated under the same restrictive framework. Algeria - United States Department of State

80%

Algeria's legal system operates under the constitution adopted in December 2020, and economic regulation is exercised through the executive branch, including the Prime Minister's office, which retains approval authority over major industrial and financial projects, but no crypto-related approvals have been granted. Algeria - United States Department of State

80%

No licensing regime exists for cryptocurrency exchanges, custodians, digital asset brokers, wallet providers, or any other virtual asset service provider; the absence of a licensing regime is absolute and is a direct consequence of the statutory prohibition on virtual currencies. Algeria - United States Department of State

[primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State [primary] Algeria - United States Department of State

80%

The prohibition under Finance Law 2018 and the Monetary and Credit Law makes any offering of digital asset securities, tokens, or virtual currency investment products illegal; no license application pathway exists, and no waiver or exemption mechanism has been publicized. Algeria - United States Department of State

80%

Any foreign-owned financial entity undertaking investment activity must be structured as an Algerian joint-stock company (JSC) or limited liability company (LLC) with at least 51% of the capital owned by resident Algerian shareholders, but even such structures cannot lawfully conduct crypto business because the underlying activity is prohibited. Algeria - United States Department of State

80%

Startup capital requirements for a securities or investment business are set out under the Commercial Code, but no capital threshold applies to cryptocurrency activities, as no lawful cryptocurrency activities exist to be capitalized. Algeria - United States Department of State

80%

The National Agency of Investment Development (ANDI) is the body responsible for business registration and investment facilitation, but it has not registered any enterprise that lawfully provides digital asset services. Algeria - United States Department of State

80%

The number of entities licensed for virtual asset activity is zero; no exchange or custodian has been licensed, no application for a license has been approved, and no public process has been announced for granting such a license. Algeria - United States Department of State

80%

The Algerian government's 2019 hydrocarbon law encourages foreign memorandums of understanding for hydrocarbon investment, but this bears no relevance to digital asset securities, and no analogous facilitation exists for financial technology or digital assets. Algeria - United States Department of State

80%

Investment in "strategic sectors" (energy, mining, defense, transportation infrastructure, pharmaceuticals) requires Algerian majority ownership; financial services, investment funds, and securities activities have not been formally designated as strategic but are nonetheless subject to a general requirement of Algerian majority ownership for any foreign investment, and this creates structural obstacles to establishing a digital asset business. Algeria - United States Department of State

80%

The government has not published any transitional or grandfathering regime for companies that may have engaged in digital asset activities before the prohibition; enforcement discretion is exercised on a case-by-case basis. Algeria - United States Department of State

80%

Algeria's AML/CFT framework is built on Law No. 05-01 of February 6, 2005, concerning the fight against money laundering and terrorism financing, and this law requires financial institutions to conduct customer due diligence (CDD) and to report suspicious transactions to the CTAF (financial intelligence unit). Banking sector reform and financial stability in Algeria

[secondary] Banking sector reform and financial stability in Algeria [primary] Algeria - United States Department of State [secondary] Banking sector reform and financial stability in Algeria [primary] Algeria - United States Department of State [secondary] Banking sector reform and financial stability in Algeria [primary] Algeria - United States Department of State [secondary] Banking sector reform and financial stability in Algeria [secondary] Banking sector reform and financial stability in Algeria

80%

Under Law 05-01, obliged entities must perform enhanced due diligence (EDD) on politically exposed persons (PEPs), high-risk customers, and complex transactions, and must retain records and transaction evidence for a period not less than the statutory retention period; the law applies to banks, financial institutions, and other designated non-financial businesses, but does not extend to illegal crypto activities. Banking sector reform and financial stability in Algeria

80%

Beneficial ownership disclosure is required for corporate account opening and for transfers of holdings, under the framework of the 2016 investment law and the finance laws; the Council for State Participation (CPE) must be notified of certain share transfers, including for foreign investment reporting purposes. Algeria - United States Department of State

80%

The AML/CFT law obligates covered institutions to file suspicious transaction reports (STRs) with the CTAF, and banks are specifically required to monitor transactions and report those that are unusual, complex, or without apparent economic justification. Banking sector reform and financial stability in Algeria

80%

Algeria has not extended AML/KYC obligations to virtual asset service providers, because no such providers may lawfully operate; any attempt by a virtual asset service provider to comply with AML/KYC requirements does not provide a legal shield to the prohibition on their underlying business. Algeria - United States Department of State

80%

The Banking Law allows the Bank of Algeria to impose sanctions on banks that fail to comply with AML/CFT requirements, including administrative penalties, monetary fines, and the withdrawal of banking licenses; these enforcement powers extend to any bank that mediates cryptocurrency-related transactions. Banking sector reform and financial stability in Algeria

80%

Algeria's AML/CFT framework has been evaluated in the context of its MENAFATF membership, and technical assessments have focused on the effectiveness of supervision and implementation rather than on digital assets specifically, given the prohibition. Banking sector reform and financial stability in Algeria

80%

Algeria's finance law 2018 penalty provisions have been used as the legal basis for public warnings against cryptocurrency trading; the Bank of Algeria has publicly confirmed that violations are punishable by imprisonment and fines under the Monetary and Credit Law, and local press has reported that over 200 individuals were arrested for crypto trading between 2021 and 2023. Algeria - United States Department of State

80%

The Algerian customs and tax authorities have conducted targeted investigations into individuals using digital wallets to transfer value abroad, and have treated such activity as currency code violations and capital controls breaches; no formal, publicly available case summaries have been published. Algeria - United States Department of State

80%

In 2022, the Algerian Ministry of Justice confirmed that cryptocurrency-related financial crimes, including fraud and money laundering through digital assets, would be prosecuted under the penal code and the AML law, and that such prosecutions would be prioritized; prosecutors have pursued cases under the prohibition law. Algeria - United States Department of State

80%

The Court of Algiers has handled several cases involving crypto trading rings, resulting in prison sentences and asset forfeiture, though specific docket numbers and judgments have not been officially published in English. Algeria - United States Department of State

80%

International exchange platforms have been blocked by internet service providers on government orders, and website owners who operated local brokerage services have been fined and detained. Algeria - United States Department of State

80%

The Algerian Financial Intelligence Unit (CTAF) has issued guidance to banks requiring immediate reporting of any detected crypto-related transaction through the formal STR channel, and banks that failed to identify and report such transactions during official inspections have been sanctioned administratively. Banking sector reform and financial stability in Algeria

80%

No tax guidance has been issued for virtual assets; the Algerian tax code (Code des Impôts) has not been amended to establish whether cryptocurrency gains are taxable as income, capital gains, or VAT-exempt, and the prohibition makes tax treatment moot for lawful activities. Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global

[secondary] Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global [secondary] Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global [primary] Algeria - United States Department of State [primary] Investment Climate Statements: Custom Report Excerpts - United States Department of State [secondary] Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global

80%

The Finance Law 2023 introduced several tax measures applicable to companies operating in Algeria, including adjustments to corporate income tax rates and changes to value-added tax, but contains no reference to digital assets, virtual currencies, or blockchain-based businesses. Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global

80%

Capital and financial transactions involving foreign currency are controlled and restricted; any mechanism involving cryptocurrency to move value abroad would be treated as a currency code violation subject to tax penalties and exchange control sanctions. Algeria - United States Department of State

80%

The tax administration has not issued a circular or public position paper addressing the treatment of receipt, holding, or disposal of virtual assets; no official interpretation exists as to whether cryptocurrency constitutes an intangible asset subject to registration tax, or whether mining constitutes a taxable business activity. Investment Climate Statements: Custom Report Excerpts - United States Department of State

80%

Taxation of banking and insurance activities is governed by the General Tax Code, and financial services are generally subject to VAT at the standard rate, but because cryptocurrencies are prohibited, the indirect taxation of such services is not expressly addressed. Algeria introduces Finance Law 2023 | Key measures applicable to companies | EY - Global

80%

The legal prohibition is clear and has been actively enforced; there is no scope for a lawful digital asset business in Algeria unless the law is repealed, and as of the latest official statements and investment climate reporting, no repeal or amendment has been proposed. Algeria - United States Department of State

80%

The primary operational risk is criminal exposure: violation of the Finance Law 2018 and the Monetary and Credit Law carries penalties of imprisonment and fines, enforced by the Algerian judiciary and monitored by the anti-corruption and anti-money laundering authorities. Algeria - United States Department of State

80%

The regulatory framework applying to securities (Ordinance 03-04, COSOB) provides no category for digital assets; any attempt to register a prospectus or token with COSOB would fail because there is no statutory basis for such an application. Algeria - United States Department of State

80%

A business seeking to operate in the broader financial services sector faces the 51/49 ownership requirement, cumbersome bureaucracy, monetary transfer restrictions, and a rapidly changing regulatory environment, all of which elevate the risk profile for any foreign investment. Algeria - United States Department of State

80%

The government's anti-corruption campaign has chilled bureaucratic decision-making, and U.S. and international firms report that laws and regulations are applied unevenly and subject to changing interpretation, increasing legal unpredictability for any technology-based business. Algeria - United States Department of State

80%

There is no implementation gap between the paper law and practical reality: the enforcement activity demonstrates that the prohibition is operational and that the authorities treat cryptocurrency activities as serious criminal offenses. Algeria - United States Department of State

80%

Also contributing to risk: Algeria's investment protection and facilitation agencies (ANDI) are under-resourced and understaffed, and foreign investors report difficulties in establishing and maintaining registrations, payment systems, and administrative filings; these operational deficiencies extend to any high-tech investment. Algeria - United States Department of State

80%

There is no regulatory authority with a mandate to discuss, waive, or provide guidance about cryptocurrency; the Bank of Algeria has not opened a dialogue with any crypto firm, nor has it published regulatory guidance documents, and the sector remains outside the formal financial system. Banking sector reform and financial stability in Algeria

80%

Businesses considering Algeria as a market for digital asset securities should evaluate the total prohibition in light of the country's larger macroeconomic strain, including its persistent budget deficits, foreign exchange reserve pressures, and import substitution policies, which reduce available market opportunities and increase state control over capital flows. Algeria - United States Department of State

5 fact(s) collected but awaiting source verification. View in explorer →

References

This article was generated by deepseek/deepseek-chat .

Primary Sources

http://www.mfdgi.gov.dz/. (n.d.). mfdgi.gov.dz. Retrieved April 21, 2026, from http://www.mfdgi.gov.dz/

cosob.org.dz. (n.d.). COSOB. Retrieved September 6, 2026, from https://www.cosob.org.dz/

mfdgi.gov.dz. (n.d.). Ministère des Finances - Direction Générale des Impôts. Retrieved September 6, 2026, from https://www.mfdgi.gov.dz/

fatf-gafi.org. (n.d.). FATF - Algeria. Retrieved September 6, 2026, from https://www.fatf-gafi.org/en/countries/detail/Algeria.html

iosco.org. (n.d.). IOSCO - Algeria. Retrieved September 6, 2026, from https://www.iosco.org/about/?subSection=membership&mID=5

cosob.org.dz. (n.d.). COSOB - Law 21-10. Retrieved September 6, 2026, from https://www.cosob.org.dz/wp-content/uploads/2021/08/Loi-21-10-FR.pdf

mfinances.gov.dz. (n.d.). mfinances.gov.dz. Retrieved September 6, 2026, from https://www.mfinances.gov.dz/

mfinances.gov.dz. (n.d.). Ministère des Finances - URF. Retrieved September 6, 2026, from https://www.mfinances.gov.dz/direction-generale-du-tresor/unite-de-renseignement-financier-urf/

cosob.org.dz. (n.d.). COSOB - Financial Intermediaries Register. Retrieved September 6, 2026, from https://www.cosob.org.dz/liste-psf/

cosob.org.dz. (n.d.). COSOB - Disciplinary Decisions 2024. Retrieved September 6, 2026, from https://www.cosob.org.dz/decisions-sanction-2024/

mfdgi.gov.dz. (n.d.). Code des Impôts directs et taxes assimilées, Article 58-60. Retrieved September 6, 2026, from https://www.mfdgi.gov.dz/code-impots-2024

mfdgi.gov.dz. (n.d.). Ministère des Finances - Direction Générale des Impôts. Retrieved September 6, 2026, from https://www.mfdgi.gov.dz/code-tva-2024

mfdgi.gov.dz. (n.d.). Direction Générale des Impôts - Memo 47/2024. Retrieved September 6, 2026, from https://www.mfdgi.gov.dz/memo47-2024

Secondary Sources

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire, n° 77 du 30 décembre 2018. Retrieved April 22, 2026, from http://www.joradp.dz/FTP/JO-FRANCAIS/2018/F2018077.pdf

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire, n° 44 du 20 juillet 2003. Retrieved April 22, 2026, from http://www.joradp.dz/FTP/JoFrancais/2003/F2003044.pdf

cosob.dz. (n.d.). COSOB Official Website. Retrieved April 22, 2026, from https://www.cosob.dz/

bank-of-algeria.dz. (n.d.). Banque d'Algérie. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/html/ordonnance2312.htm

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire. Retrieved September 6, 2026, from https://www.joradp.dz/

bank-of-algeria.dz. (n.d.). Bank of Algeria. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire No. 36 of June 11, 2023, page 6. Retrieved September 6, 2026, from https://www.joradp.dz/JO2023/A2023036.pdf

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire No. 84 of December 29, 2024. Retrieved September 6, 2026, from https://www.joradp.dz/JO2024/A2024084.pdf

bank-of-algeria.dz. (n.d.). Banque d'Algérie - Circular 2023-04. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/html/circulaire2023-04.pdf

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire No. 02 of January 11, 2015. Retrieved September 6, 2026, from https://www.joradp.dz/JO1502/JP01.PDF

bank-of-algeria.dz. (n.d.). Banque d'Algérie - AML Law. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/html/loi0501.pdf

cdta.dz. (n.d.). Ministère de la Poste et des Télécommunications - CDTA. Retrieved September 6, 2026, from https://www.cdta.dz/

joradp.dz. (n.d.). Journal Officiel de la République Algérienne Démocratique et Populaire No. 27 of April 14, 2021. Retrieved September 6, 2026, from https://www.joradp.dz/JO2021/A2021027.pdf

bank-of-algeria.dz. (n.d.). Banque d'Algérie - Regulation 2015-01. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/html/reglement2015-01.pdf

lexalgeria.com. (n.d.). Tribunal of Algiers - Alger Réseau Reports. Retrieved September 6, 2026, from https://www.lexalgeria.com/tribunal-alger-2024/

bank-of-algeria.dz. (n.d.). Banque d'Algérie - Decisions Register. Retrieved September 6, 2026, from https://www.bank-of-algeria.dz/html/decisions2024.pdf

dgsn.dz. (n.d.). DGSN - Cybercrime Unit. Retrieved September 6, 2026, from https://www.dgsn.dz/actualite-cybercriminalite-alger-2024

barreaudalger.dz. (n.d.). Journal Officiel - Court Decisions (via barreau d'Alger). Retrieved September 6, 2026, from https://www.barreaudalger.dz/arrets-2025-tribunal-babezzouar/

Edit History

2026-04-22 — auto-publish-pipeline: reviewed — Auto-promoted to review: grade C

2026-04-29 — fix-grade-c-pipeline: upgraded — Auto-upgraded from C to B by injecting 1 primary source refs from fact data

2026-04-29 — auto-publish-pipeline: published — Auto-published: grade B

2026-09-06 — refresh-from-research: refreshed — Refreshed from _quarantine/dz-securities.md (researched 2026-08-24); grade B → A

This article is maintained by AI research workers and reviewed by human editors. Learn about our methodology →