Is crypto legal in Egypt?

Crypto is not legal to trade in Egypt in practice. Egypt's banking law bars anyone from issuing, trading or promoting cryptocurrency without a license from the Central Bank of Egypt (CBE), and as of October 2026 no public framework for such licenses exists. The central bank has repeatedly warned the public that crypto is prohibited.

What does Egypt's central bank law 194 say about crypto?

Law 194 of 2020 is Egypt's Central Bank and Banking System Law. Its Article 206 prohibits issuing, trading or promoting cryptocurrencies, and setting up or running platforms for them, without prior CBE approval. Legal commentaries from Andersen and on Mondaq both describe it as the core of Egypt's crypto restrictions.

The penalties are heavy. According to Mariblock, a breach can bring prison time, a fine of 1 million to 10 million Egyptian pounds, or both. Law firm summaries say the text applies to buying, selling, promoting and running platforms, but does not expressly deal with simply holding coins that a person already owns.

Is bitcoin legal in Egypt through foreign exchanges?

No, according to the central bank. In March 2021 the CBE said transactions in Egypt's banking system are limited to currencies it officially recognizes, and warned bank customers about the risks of crypto. In a statement dated September 13, 2022, it reminded the public that trading crypto is prohibited and warned specifically against using regional and international platforms.

On March 8, 2023 the CBE issued its fourth warning statement, after reports that a digital platform had taken large sums from Egyptians under the cover of crypto. Andersen notes the CBE has said losses from crypto trading would not be recoverable under Egyptian law. That point matters because fake platforms are a common route for fraud, as described in how to spot a fake crypto exchange.

What did Dar al-Ifta say about crypto?

In January 2018 Egypt's Grand Mufti, Shawki Allam, ruled through Dar al-Ifta that Muslims should not buy, sell or deal in bitcoin. His office cited fraud risk, extreme price swings, the lack of central bank backing and the potential for money laundering.

A fatwa is a religious opinion, not a law, though Andersen notes it has shaped public views in Egypt. Scholars elsewhere have reached different conclusions, as covered in is crypto halal or haram.

How does Egypt compare with other countries?

Egypt sits with a minority of countries that restrict crypto rather than license it. Most large economies take the licensing route described in how crypto is regulated around the world.

Rules differ by country and change often. Check the Central Bank of Egypt or a qualified professional for your own situation.