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
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.
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.
Janet Combs
December 21, 2025 AT 21:16this 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.
Dan Dellechiaie
December 23, 2025 AT 02:27lol 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.
Radha Reddy
December 23, 2025 AT 08:59as 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.
Megan O'Brien
December 23, 2025 AT 22:39so the state is the only one allowed to be a scammer? classic.
Melissa Black
December 24, 2025 AT 02:39crypto 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.
Sophia Wade
December 25, 2025 AT 06:25there’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.
Brian Martitsch
December 26, 2025 AT 17:54lol. 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. 😏
Rebecca F
December 27, 2025 AT 06:24they'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
Vyas Koduvayur
December 27, 2025 AT 16:47let me break this down with data. according to the central bank’s 2023 report, 78% of egyptian crypto users are under 30. 63% use it for remittances. 41% use it to preserve savings against 30% annual inflation. the law doesn’t address any of that. it’s a blunt instrument applied to a complex socioeconomic crisis.
also, the fca has zero capacity to monitor peer-to-peer transactions. this is performative enforcement. they’re not catching anyone-they’re just scaring people into silence.
and guess what? silence doesn’t stop crypto. it just drives it underground. and underground markets are more dangerous. so they’re making things worse. classic policy failure.
Jake Mepham
December 29, 2025 AT 13:35if you’re in egypt and you’re using crypto, you’re not a criminal-you’re a pragmatist.
the banks won’t let you send money abroad without 3 weeks of paperwork and 15% fees. the government won’t let you buy gold because it’s ‘speculative.’ so what’s left? crypto.
it’s not a hobby. it’s a lifeline.
and if you think banning it will fix anything, you’ve never lived in a country where your paycheck buys less every month.
Cathy Bounchareune
December 31, 2025 AT 12:53the irony? egypt has one of the most vibrant tech scenes in africa. young devs are building ai tools, fintech apps, even decentralized identity systems-but they can’t touch blockchain because it’s ‘crypto.’
the government is banning the tool while ignoring the technique.
it’s like banning paint because someone used it to graffiti. you’re not stopping art-you’re just making it illegal.
Grace Simmons
January 1, 2026 AT 21:45this is exactly why we need stronger borders and stricter laws. crypto is a foreign influence that undermines national sovereignty. the egyptian people should be grateful their government is protecting them from these chaotic, unregulated foreign schemes.
if you can’t trust your own currency, maybe you shouldn’t be living here.
Jayakanth Kesan
January 2, 2026 AT 17:13my cousin in cairo uses p2p to send money to his sister in the uk. he’s been doing it for 3 years. never got caught. never reported. just quiet, smart, and determined.
the law? it’s just paper. people are still living. that’s what matters.
Lloyd Yang
January 3, 2026 AT 18:21i’ve talked to people in egypt who’ve been using crypto for years. one guy told me he uses it to pay his daughter’s tuition in the uk because the bank froze his account for ‘suspicious activity’-which was just sending 500 dollars to her. he switched to btc and now he sends it in minutes.
another woman told me she keeps her savings in usdt because her bank’s interest rate is 1% and inflation is 30%. she’s not trying to get rich. she’s trying not to starve.
this law isn’t about stopping crime. it’s about keeping people powerless. and that’s the real crime.
Craig Fraser
January 4, 2026 AT 08:10the fact that anyone would even consider using crypto in a country with this level of governance is a sign of systemic collapse. and yet, here we are, debating whether the punishment fits the crime.
the crime is trusting a decentralized, unregulated system in a nation that already can’t manage its own currency.
the punishment? it’s barely a slap on the wrist.
Jacob Lawrenson
January 5, 2026 AT 08:46if you're in egypt and you're holding crypto-you're already winning.
you're one step ahead of the system.
the fines? they're just noise.
the real victory? you still have control.
keep going. 🚀
Zavier McGuire
January 6, 2026 AT 23:29they banned it because they can't tax it and they can't control it and they can't lie about it anymore
so they make it illegal and pretend that makes it go away
but it won't
people will always find a way
they always do
Sybille Wernheim
January 8, 2026 AT 00:01to the people in egypt who are still using crypto-you’re not alone.
i know it feels scary. i know the risk is real.
but you’re not breaking the law to be reckless.
you’re doing it because you believe in something better.
and that’s worth fighting for.
Collin Crawford
January 8, 2026 AT 07:45It is imperative to note, in accordance with the legal framework established under Law No. 194 of 2020, that the prohibition of digital asset transactions constitutes a legitimate exercise of sovereign monetary authority, as codified under Article 7, Subsection 3(b) of the Central Bank Act. Any deviation from this framework constitutes a violation of national economic security, and the imposition of penalties is not merely discretionary-it is mandatory. The notion that individuals are merely 'surviving' by circumventing state regulation is a romanticized fallacy propagated by those who misunderstand the foundational principles of monetary sovereignty. To equate financial autonomy with moral righteousness is not only analytically unsound-it is dangerously naïve.