Cryptocurrency Prohibition in Egypt

When it comes to cryptocurrency prohibition in Egypt, a strict government stance that makes trading, holding, or using digital currencies illegal under national law. Also known as Egypt's crypto ban, this policy was formalized in 2018 by the Central Bank of Egypt and reinforced in 2020 with warnings that banks could freeze accounts linked to crypto transactions. Unlike countries that regulate crypto, Egypt treats it as a threat to financial stability and national currency control.

The ban isn’t just about fear of volatility—it’s about control. The Egyptian pound is already under pressure, and officials worry that widespread use of Bitcoin or USDT could drain foreign reserves or enable money laundering. Banks are required to monitor customer activity and report any crypto-related transactions. People caught trading on peer-to-peer platforms or using foreign exchanges risk fines, account freezes, or even criminal charges. There’s no official license for crypto exchanges in Egypt, and no legal path to buy or sell digital assets through local banks.

Despite the ban, crypto use hasn’t disappeared. Many Egyptians turn to informal networks, WhatsApp groups, or offshore platforms to trade. USDT is especially popular because it’s used to send money abroad—bypassing strict currency controls. Some use crypto to pay for freelancing work or buy goods from international sellers. But these aren’t safe options. There’s no legal recourse if you get scammed, and banks don’t protect users who break the rules. The government has cracked down on crypto ATMs and social media influencers promoting trading, making it harder than ever to operate openly.

What’s missing from the conversation is how this affects everyday people. Students, freelancers, and small business owners who rely on global income streams are hit hardest. They can’t use crypto to get paid or send money home without risking their livelihoods. Meanwhile, neighboring countries like Nigeria and Kenya have taken a more pragmatic approach—regulating instead of banning. Egypt’s policy feels outdated, especially as blockchain tech evolves beyond just speculation.

Below, you’ll find real stories and breakdowns of what happens when Egyptians try to trade crypto, how scams exploit the ban, and what alternatives are actually working in 2025. No theory. No hype. Just what’s happening on the ground.