Let $\mathcal{A}$ be an algebra of operators on a Hilbert space $\mathcal{H}$, and suppose it contains the Hamiltonian: $H\in\mathcal{H}$. The Heisenberg evolution for any $\hat{O}\in\mathcal{A}$ is $$\tag{1} \hat{O}(t)=e^{itH/\hbar}\hat{O}(0)e^{-itH/\hbar}.$$
All three terms on the RHS are in $\mathcal{A}$, and so $\hat{O}(t)\in\mathcal{A}$ for all $t$. That is, time evolution maps $\mathcal{A}$ into itself.
The above seems correct, but a particle moving on a line seems to provide a counterexample. Let $\mathcal{H}=L^2(\mathbb{R})$, with position and momentum operators $\hat{x},\hat{p}$. Take the Hamiltonian $H=\hat{p}$. Finally, let $$\tag{2}\mathcal{A}=\{f(\hat{x}):f\text{ is smooth },supp(f)\subseteq (0,1)\} \oplus span(\hat{p}).$$
To see that (2) is closed under the bracket, use $$\tag{3}[f(\hat{x}),\hat{p}]=i\hbar f'(\hat{x})$$ and note that if $supp(f)\subseteq (0,1)$ then $supp(f')\subseteq (0,1)$.
Now, since $\hat{p}\in\mathcal{A}$, we expect $\mathcal{A}$ to evolve into itself. But this is not true. We have \begin{align} \tag{4}f(\hat{x})(t) &= f(\hat{x}(t)) \\ \tag{5} &= f(e^{it\hat{p}/\hbar} \hat{x}(0) e^{-it\hat{p}/\hbar}) \\ \tag{6}&= f(\hat{x}(0)+tI ) \end{align} where $I$ in the last line is the identity operator.
After unit time, any $f$ initially with support in $(0,1)$ evolves to have support outside $(0,1)$. Hence $\mathcal{A}$ doesn't evolve into itself.
Where was my mistake? Is there an issue with operators being unbounded? Note that in order to vanish outside $(0,1)$ but be nonzero inside, $f$ must be non-analytic -- maybe this is somehow important?