Egypt's Central Bank bans all cryptocurrency trading under Law No. 194/2020, backed by religious and economic concerns. Enforcement is inconsistent, but the ban remains strong. Blockchain tech, however, is being adopted for government use.
Egypt Crypto Law: What’s Allowed, Banned, and How It Affects Traders
When it comes to Egypt crypto law, the official stance on cryptocurrency in Egypt is a mix of outright bans, silent tolerance, and growing enforcement. Also known as Egyptian digital currency regulations, it’s one of the strictest in the region—yet millions still trade anyway. The Central Bank of Egypt doesn’t recognize Bitcoin, Ethereum, or any other crypto as legal tender. In 2020, they issued a formal warning that trading or holding crypto could lead to criminal charges under money laundering laws. But here’s the twist: while banks block crypto deposits, Telegram groups and peer-to-peer markets are thriving.
That’s where crypto taxes Egypt, a gray area with no clear rules but real consequences. Also known as digital asset taxation Egypt, it’s not officially tracked—but if you’re caught moving large sums, the authorities can freeze your bank accounts or demand proof of income. Meanwhile, crypto trading Egypt, happens mostly through local fiat gateways, WhatsApp brokers, and unregulated exchanges. Also known as P2P crypto Egypt, it’s the only way many Egyptians send remittances, buy food, or protect savings from inflation. You won’t find Binance or Coinbase officially operating there, but you’ll find locals using KuCoin, Bybit, or even OKX through VPNs—just like in Qatar or Afghanistan.
Some try to play it safe by using crypto only for cross-border transfers, avoiding local exchanges entirely. Others get caught in raids—like the 2023 case where police arrested five traders in Alexandria for using a crypto wallet linked to over $200,000 in transfers. No one’s been sentenced to prison yet, but fines and asset seizures are common. And while the government hasn’t passed a formal law yet, draft bills are circulating that could criminalize mining, ban crypto ATMs, and require all wallet users to register with the central bank.
So what’s the real picture? Egypt’s crypto law isn’t written in stone—it’s written in silence, enforcement, and fear. You can’t legally buy crypto with a bank card. You can’t open a crypto business. But if you know where to look, you can still trade, hold, and even profit. The key is staying under the radar. That’s why the posts below cover everything from how locals bypass restrictions, to the real risks of using crypto in a country where the rules are vague but the penalties aren’t.
