Cryptocurrency Prohibition in Egypt

When it comes to cryptocurrency prohibition in Egypt, a strict legal ban on all crypto-related activities enforced by the Central Bank of Egypt since 2018. Also known as Egypt’s crypto ban, it makes trading, holding, or promoting digital assets a criminal offense under the country’s financial regulations. Unlike countries that regulate crypto, Egypt outright forbids it — no licenses, no exceptions, no gray areas.

This ban isn’t just about controlling money flow. It’s tied to fears over capital flight, currency devaluation, and losing control over the Egyptian pound. The Central Bank of Egypt says crypto undermines the national financial system, and the government backs that up with real consequences. People caught using crypto can face fines, asset seizures, and even jail time. It’s not theoretical — there have been arrests and prosecutions. Even using a VPN to access Binance or Coinbase can trigger scrutiny from authorities. The ban extends to exchanges, mining, and peer-to-peer trades. If you’re in Egypt, any crypto transaction, no matter how small, is legally risky.

But here’s the twist: the ban hasn’t stopped people from using crypto. Many Egyptians still buy Bitcoin and USDT through peer-to-peer networks, local traders, or unofficial channels. Why? Because inflation has made the pound unstable, and crypto offers a way to preserve value. Remittances from abroad are often sent in crypto to avoid high bank fees. Some even use it to pay for services online that Egyptian banks block. It’s a quiet underground economy — not endorsed by the state, but sustained by necessity. The government knows it’s happening. They’ve cracked down on crypto-related ads, shut down local crypto meetups, and pressured banks to monitor suspicious transfers. But enforcement is uneven. Some people get caught. Others slip through.

What about blockchain tech? The ban targets currency, not technology. Some startups in Egypt still build on Ethereum or Solana for supply chain or identity projects — as long as they don’t touch tokens. The line is blurry, and the rules aren’t always clear. Meanwhile, neighboring countries like Nigeria and Kenya have taken a more pragmatic approach, allowing crypto with regulation. Egypt’s stance remains extreme. If you’re an Egyptian citizen, or even a foreigner living there, you’re playing with fire if you hold crypto. But if you’re researching how people adapt under restrictions, Egypt’s case is one of the most telling examples in the world.

Below, you’ll find real stories and analysis from people who’ve faced these rules — from traders who lost accounts to developers navigating the legal gray zone. These aren’t theoretical guides. They’re lived experiences.