Algeria: Finance Law for the year 2018 (Law No. 17-11) including prohibition of the purchase, sale, use, and possession of virtual currencies under Article 117 entered into force

On 1 January 2018, the Finance Law for the year 2018 (Law No. 17-11) entered into force, explicitly prohibiting the purchase, sale, use, and possession of virtual currencies under Article 117. The law defines virtual currencies as digital assets lacking traditional financial backing, such as physical currency or bank payment instruments. Violations of this prohibition are subject to penalties in accordance with applicable legislation.