Algeria is looking to ban the use of Bitcoin under a new National Finance Bill planned for 2018, NewsBTC reported.
According to the bill currently under consideration at the National People's Congress, Bitcoin usage and ownership will be illegal in the country, and any violation of the provision will be punished in accordance with the laws and regulations in force.
The bill refers to Bitcoin as a “so-called virtual currency” that can be used by Internet users, and describes it as “characterized by the absence of physical support such as coins, banknotes, payments by check or bank cards.”
“Algeria hopes to establish a stricter control over this kind of digital transactions,” the bill further explains, adding that it can be used for drug trafficking, tax evasion, and money laundering thanks to the guaranteed anonymity of its users.
So far, quite a few countries have come up with strong rhetoric against Bitcoin and sometimes altcoins and ICOs.