#Capital Flight - Web3Africa

North Africa’s Crypto Ice Age: Why Algeria Outlawed EVERYTHING

KenMichaelsAugust 5, 2025January 28, 202608 mins

Algeria declares war on crypto: Finance Law 2024 bans trading, mining, possession, promotion, everything. Article 31 BIS delivers 2-12 month prison terms and $3,700-$14,700 fines to protect the Dinar. Irony? Algeria ranks top 10 MENA for crypto volume yet moves opposite Morocco (now pro-adoption) and Nigeria (legalizing assets). The ban transforms digital assets from grey area to criminal offense. Africa’s crypto map fractures: adoption, restriction, or wait-and-see. Algeria chose isolation.

Legal Loophole or Progress? Unpacking the SARB Exchange Control Case Ruling

KenMichaelsMay 26, 2025January 30, 202608 mins

Pretoria High Court declares cryptocurrencies exempt from exchange control after SARB froze $37M (R556M) Bitcoin transfer by Leo Cash and Carry, attempting $1M forfeiture from Standard Bank.
Judge Mlambo rules crypto not “money” or “capital” under Exchange Control Act, exposing legislative gaps threatening capital flight. Norton Rose Fulbright warns “reprieve may be short-lived” as Baker McKenzie notes amendments could reassert oversight. FATF travel rule implementation by 2025 and Nigeria-Kenya regulatory reforms shape Africa’s digital asset future.