Egypt Crypto Law 2020: What Changed and How It Still Affects Traders Today

When Egypt passed its Egypt crypto law 2020, a sweeping ban on cryptocurrency trading issued by the Central Bank of Egypt. Also known as Egypt’s crypto prohibition, it declared all digital asset transactions illegal under the country’s banking and foreign exchange rules. This wasn’t just a warning—it was a full legal shutdown. Banks were ordered to block accounts linked to crypto exchanges, and anyone caught trading could face fines or even jail time under the Foreign Exchange Law.

The law didn’t target just exchanges. It went after crypto wallets, any digital storage of Bitcoin, Ethereum, or other tokens if they were used for payments or transfers. Even peer-to-peer trades between friends became risky. At the same time, crypto mining, the process of validating blockchain transactions using hardware, was never officially addressed—so it slipped into a gray zone. Many Egyptians kept mining anyway, using cheap electricity and running rigs quietly at home.

What’s surprising is how little the law changed daily behavior. Despite the ban, crypto usage didn’t disappear. It just went underground. Peer-to-peer platforms like LocalBitcoins and Paxful saw a spike in activity. People started using VPNs, cash-based trades, and even WhatsApp groups to move funds. The Central Bank of Egypt, the country’s main financial regulator never updated its stance, but enforcement stayed patchy. No major arrests made headlines. No banks publicly reported crypto-related violations. The law became more of a symbolic gesture than a practical tool.

By 2025, Egypt’s position looks increasingly out of step. Neighboring countries like Nigeria and Kenya embraced crypto regulation instead of banning it. Even Saudi Arabia and the UAE moved toward licensing exchanges. Egypt’s ban now feels like a relic—a rule written for a time when crypto was seen as a threat to the dollar and the banking system. But with inflation eating into savings and remittances flowing through digital channels, many Egyptians rely on crypto more than ever. The law hasn’t stopped demand. It’s only made it harder, riskier, and more expensive.

If you’re trading from Egypt—or thinking about it—you’re navigating a legal minefield. No licensed exchanges operate there. No local bank will touch your crypto. But millions still do it. The posts below show you how people are adapting: the scams they avoid, the tools they use, the real risks they face. You’ll find reviews of platforms that claim to work in Egypt, warnings about fake airdrops targeting locals, and insights into how crypto is quietly reshaping financial life—even under a ban that never quite worked.