Crypto Illegal in Egypt: What You Need to Know About the Ban and Its Impact

When we talk about crypto illegal in Egypt, the official stance of the Central Bank of Egypt that bans all cryptocurrency transactions and trading under religious and financial stability laws. Also known as Egyptian crypto prohibition, it means buying, selling, or mining digital assets like Bitcoin or Ethereum is against the law — not just discouraged, but punishable. This isn’t a gray area. The Central Bank of Egypt, along with Al-Azhar University’s religious scholars, declared crypto haram in 2018, calling it unregulated, speculative, and a threat to national currency.

Unlike countries that regulate crypto with KYC rules or licensing, Egypt chose a hard ban. No licensed exchanges operate there. No bank will process crypto deposits. Even receiving crypto as payment can trigger legal trouble. Yet, despite the ban, crypto use hasn’t disappeared. Underground trading thrives through peer-to-peer platforms, foreign wallets, and cash-based trades. People in Cairo and Alexandria still buy Bitcoin using mobile money or cash from strangers in cafes. The demand is real — driven by inflation, limited access to dollars, and young tech-savvy users who see crypto as a way out.

The Egyptian crypto ban, a strict regulatory policy enforced by the Central Bank of Egypt that criminalizes cryptocurrency use without formal approval. Also known as crypto prohibition in Egypt, it’s one of the toughest in the region — stricter than Nigeria’s recent restrictions or Vietnam’s complex licensing system. The penalties? Fines, asset seizure, and even jail time under the Foreign Exchange Law. But enforcement is patchy. Many users stay under the radar. Some use VPNs to access foreign exchanges. Others trade through Telegram groups or local crypto meetups. Meanwhile, the government hasn’t updated its stance since 2018, even as global regulators begin to embrace crypto with rules, not bans.

What’s missing from the official story? The real impact on everyday people. Egyptians use crypto not for gambling, but to protect savings from currency devaluation. The Egyptian pound lost over 50% of its value since 2022. Crypto isn’t a luxury here — it’s survival. That’s why you’ll find more crypto users in Egypt than in many countries where it’s legal. The ban didn’t stop adoption. It just pushed it underground.

Below, you’ll find real reviews, scam alerts, and deep dives into how Egyptians are navigating this legal gray zone — from fake exchanges targeting locals to the rise of privacy-focused tools that bypass detection. These aren’t theoretical guides. They’re stories from people who’ve been caught, lost money, or found ways to keep trading safely despite the ban. If you’re in Egypt or planning to move there, this collection will show you what’s real, what’s dangerous, and what’s quietly changing the rules on the ground.