1-10 Million Pound Fines for Crypto Trading in Egypt: What You Need to Know

If you're trading cryptocurrency in Egypt, you're breaking the law-and the penalties are brutal. Fines range from 1 million to 10 million Egyptian pounds (roughly $51,600 to $516,000 USD), plus possible jail time. This isn’t a warning. It’s a criminal charge under Law No. 194 of 2020.

What Exactly Is Banned?

Egypt doesn’t just discourage crypto. It outlaws every single part of it. Trading Bitcoin or Ethereum? Illegal. Running a crypto exchange? Illegal. Promoting a crypto project on Instagram or Telegram? Also illegal. Even helping someone buy crypto could land you in court.

The law targets four things specifically:

  • Issuing digital currencies
  • Trading or exchanging them
  • Operating platforms that handle them
  • Marketing or promoting them to the public
There’s no gray area. If you’re involved in any of these activities without government permission-which doesn’t exist-you’re breaking the law.

Who Enforces This?

Two agencies are watching closely: the Central Bank of Egypt (CBE) and the Egyptian Financial Regulatory Authority (FRA). The CBE started warning people about crypto back in 2018, calling it risky, unbacked, and prone to fraud. By 2020, those warnings became law.

The FRA doesn’t just sit back. They actively scan social media, websites, and messaging apps for crypto ads. They’ve already identified dozens of unlicensed platforms pushing crypto investments with promises of high returns. If you’re running one of those, you’re already on their radar.

They even ask citizens to report suspicious activity. That means your neighbor, coworker, or even a friend who’s into crypto could turn you in.

How Much Is a Fine Really Worth?

One million Egyptian pounds is about $51,600 USD. Ten million is over half a million. To put that in perspective, the average monthly salary in Egypt is around 6,000 EGP. A 1 million EGP fine is equal to over 166 months of pay. That’s more than 13 years of earnings.

And it’s not just money. The law says violators can be imprisoned, fined, or both. There’s no guarantee you’ll only pay a fine. The court decides-and they don’t take this lightly.

Why Does Egypt Hate Crypto So Much?

The government’s official reason? Risk. They say crypto has no real value, no oversight, and is used for money laundering, scams, and cybercrime. And they’re not completely wrong. Crypto has been used for illegal purposes worldwide.

But here’s the twist: Egypt is one of the top crypto-owning countries in Africa and the Middle East. A 2022 report found that nearly 1.8 million Egyptians-about 1.75% of the population-own cryptocurrency. That’s more than in Saudi Arabia, the UAE, or Turkey.

So why are so many people breaking the law?

Because crypto offers something traditional banking doesn’t: access. Many Egyptians can’t get loans, send money abroad easily, or protect their savings from inflation. Crypto is a workaround. It’s not about speculation-it’s survival.

People secretly trading crypto on phones in a Cairo market while a surveillance drone scans social media above, glowing crypto icons flicker in the air.

What Happens to Businesses?

It’s not just individuals. Companies are trapped. If you run a business in Egypt and want to pay a supplier in the U.S. using Bitcoin to avoid high bank fees? Illegal. If you accept crypto payments from international customers? Illegal. Even using blockchain for supply chain tracking could be risky if it involves digital assets.

This forces businesses to rely on slow, expensive bank transfers. It makes Egypt harder to trade with globally. Foreign companies think twice before working with Egyptian partners because they don’t want to risk violating local law.

No crypto means no innovation. No blockchain startups. No fintech growth. Egypt is cutting itself off from a global trend while its people keep using it anyway.

Is Anyone Getting Caught?

There are no public records of large-scale prosecutions yet. That doesn’t mean no one’s being punished. The government doesn’t need to make headlines to deter people. The threat alone is enough.

The FRA has already shut down dozens of websites and social media accounts promoting crypto. They’ve issued public warnings naming specific platforms. That’s enough to scare off casual traders.

But for those who keep going? The risk is real. If you’re using a local exchange, sending crypto through peer-to-peer apps like Paxful, or even holding Bitcoin in a wallet-you’re technically violating the law. Enforcement might be quiet, but it’s not absent.

What About Foreigners in Egypt?

If you’re a tourist, expat, or digital nomad living in Egypt, the law still applies to you. You don’t need to be an Egyptian citizen to be prosecuted. If you trade crypto while physically in Egypt, you’re subject to Egyptian law.

That means if you’re caught using a crypto ATM, buying crypto from a local seller, or even just promoting a coin on your blog while in Cairo-you could face fines or arrest.

There’s no “foreigner exemption.” The law doesn’t care who you are.

A family holds a cold-storage wallet at night as a looming legal document casts a shadow, gold and bonds sit unused beside them under moonlight.

What Are the Alternatives?

If you need to send money abroad, use licensed remittance services like Western Union or MoneyGram. They’re slow and expensive, but legal.

If you want to protect your savings from inflation, consider Egyptian government bonds or gold. Neither is perfect, but both are legal.

If you’re a developer or entrepreneur, focus on blockchain tech that doesn’t involve native tokens-like supply chain tracking or identity verification systems. The government doesn’t ban blockchain. It bans crypto.

Will This Ever Change?

Probably not soon. Egypt’s stance is one of the strictest in the world. Unlike countries like El Salvador or the UAE that are trying to regulate and adopt crypto, Egypt is doubling down on prohibition.

The government sees crypto as a threat to financial control. And they’re willing to punish people severely to maintain it.

Until the law changes, the only safe option is to avoid crypto entirely while in Egypt. Even holding it in a wallet carries risk.

What If You Already Own Crypto?

Owning crypto isn’t illegal-using it is. So if you bought Bitcoin before the law passed and never traded it since, you’re not breaking the law just by holding it.

But if you sell it, send it, or use it to pay for anything in Egypt? That’s where you cross the line.

The safest move? Keep it in cold storage. Don’t trade. Don’t transfer. Don’t promote. Just hold it-and hope the government doesn’t come knocking.

Final Reality Check

Egypt’s crypto ban is extreme. The fines are designed to terrify. But people are still doing it. Why? Because the system isn’t working for them.

The government wants control. The people want freedom. Crypto sits right in the middle.

Right now, if you’re in Egypt and you’re trading crypto, you’re gambling-not just with your money, but with your freedom. The odds aren’t in your favor.

And that’s the truth.

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8 Comments

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    Janet Combs

    December 21, 2025 AT 21:16

    this is wild. i live in the us and i still can't believe people are getting fined like this just for using crypto. it's like the government is scared of people having control over their own money.
    imagine being told you can't buy something because it's 'too risky'-but your bank charges you 20% to send cash abroad. that's the real risk.

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    Dan Dellechiaie

    December 23, 2025 AT 02:27

    lol nigeria’s got 30 million crypto users and egypt’s punishing 1.8 million? the hypocrisy is thick enough to spread on toast. they ban it because they can’t tax it, can’t control it, and can’t scam it themselves.
    also-10 million EGP? that’s more than most egyptians make in a lifetime. this isn’t regulation, it’s economic terrorism.

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    Radha Reddy

    December 23, 2025 AT 08:59

    as someone from india, i see parallels. our own government has been inconsistent with crypto-first ban, then tax, now cautious acceptance. but egypt’s approach feels more like fear than policy.
    people aren’t using crypto for gambling-they’re using it to survive inflation and send remittances. criminalizing survival is not justice.

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    Megan O'Brien

    December 23, 2025 AT 22:39

    so the state is the only one allowed to be a scammer? classic.

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    Melissa Black

    December 24, 2025 AT 02:39

    crypto is a monetary sovereignty tool. egypt’s banning it because it undermines the fiat monopoly.
    the central bank doesn’t want people bypassing their control mechanism. this isn’t about fraud-it’s about power.
    the fines are designed to be existential. not punitive. existential.

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    Sophia Wade

    December 25, 2025 AT 06:25

    there’s something haunting about a nation that fears its own people more than it fears inflation.
    they’d rather lock up a grandmother who sent money to her daughter in canada than fix the banking system that made her desperate enough to try.
    crypto isn’t the problem. the system is.
    and systems that punish survival are not systems-they’re monuments to failure.

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    Brian Martitsch

    December 26, 2025 AT 17:54

    lol. you people think this is harsh? try living in a country where your currency loses 50% value in 6 months and you’re not allowed to hedge.
    obviously the government is full of old men in suits who’ve never seen a blockchain.
    btw, if you're holding btc in egypt? you're already guilty. just don't get caught. 😏

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    Rebecca F

    December 27, 2025 AT 06:24

    they're not banning crypto they're banning hope
    and if you're not outraged you're not paying attention
    the fact that people are still doing it anyway means they're not stupid-they're brave
    and bravery gets punished here

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