Global Regulatory Shift: Another Country Joins Hungary in Restricting Cryptocurrencies

Another Country Catches Up with Hungary in Criminalizing Cryptocurrencies

After Hungary’s recent move to criminalize cryptocurrencies, another country has followed suit. Algeria has announced that it will also prohibit all cryptocurrency-related activities, citing the need to protect its financial system and combat money laundering and terrorism financing.

According to reports, the new law will make all cryptocurrency transactions punishable by imprisonment or fines of up to €2.6 million. This includes not only trading and investing in cryptocurrencies but also mining, ownership, promotion, and even the operation of crypto platforms.

The news has sent shockwaves through the cryptocurrency community, as another country joins Hungary in restricting the use of digital currencies. The move is seen as a significant blow to the industry, which had already been struggling with regulation and uncertainty.

It remains to be seen how this development will affect the global cryptocurrency market, but one thing is clear: the pushback against cryptocurrencies is gaining momentum worldwide.

Source: www.bitcoinbazis.hu