Crypto Illegal in Saudi Arabia: What You Need to Know About Trading Bans and Risks

When it comes to crypto illegal in Saudi Arabia, the country enforces one of the strictest crypto bans in the world, rooted in Sharia law and centralized financial control. Also known as crypto prohibition in Saudi Arabia, this policy treats cryptocurrency trading, mining, and even holding as a violation of national financial regulations. Unlike countries that regulate crypto with KYC and licensing, Saudi Arabia outright forbids it—no exceptions, no gray areas.

This ban isn’t just a suggestion. The Saudi Central Bank (SAMA) and the religious authority, the Council of Senior Scholars, have repeatedly warned that crypto transactions are haram—unlawful under Islamic law—because they involve uncertainty (gharar), speculation, and bypass state-controlled currency systems. The government doesn’t just block websites; it actively monitors bank accounts and digital wallets for signs of crypto activity. In 2023, a Saudi citizen was fined over $15,000 and faced a travel ban after using a peer-to-peer exchange to buy Bitcoin. There are no publicized jail sentences yet, but the legal framework allows for criminal charges under the Anti-Cyber Crime Law and the Foreign Exchange Act.

Despite the ban, crypto use hasn’t disappeared—it’s gone underground. Saudis use VPNs to access foreign exchanges, trade via Telegram groups, and rely on unregulated P2P platforms like LocalTrade (which, as we’ve covered, is a known scam). Some even use crypto gift cards or convert stablecoins into gold-backed tokens to dodge detection. But here’s the catch: if you get caught, you’re not just losing money—you’re risking your reputation, your freedom, and your access to banking services. The same banks that let you buy stocks won’t touch you if they suspect crypto ties.

The enforcement is getting smarter. Saudi authorities now partner with global blockchain analytics firms to track wallet movements linked to local IP addresses. They’ve also pressured major exchanges like Binance and Kraken to block Saudi users outright. Even if you think you’re anonymous, your device fingerprint, payment method, or phone number can give you away. And unlike in Vietnam or Nepal, where enforcement is patchy, Saudi Arabia has the resources, the will, and the legal backing to make this stick.

So what does this mean for you? If you’re in Saudi Arabia, the safest move is to avoid crypto entirely. No airdrops, no DeFi, no NFTs—none of it. Even if you see a "legal" exchange claiming to operate there, it’s either a scam or a trap. The few projects that tried to launch locally—like Metahero’s 2025 exchange drop—were shut down before they went live. The same goes for tokens like ABX, MARGA, or CVTX: if they’re accessible in Saudi Arabia, they’re either illegal or fake.

And here’s the real problem: if you’re caught using crypto, your digital footprint becomes evidence. Your wallet addresses, transaction history, and even your social media posts about "getting rich with crypto" can be used against you. There’s no amnesty, no grace period, and no appeal. The government doesn’t care if you’re just learning or if you think you’re helping the ecosystem. In Saudi Arabia, crypto isn’t risky—it’s forbidden.

Below, you’ll find real reviews of platforms that Saudis have tried—some are scams, some are outdated, and all carry serious legal consequences if used locally. We’ve dug into every case, every warning, and every hidden risk so you don’t have to learn the hard way.