Egypt crypto ban: What it means, who it affects, and what’s really happening
When Egypt cracked down on cryptocurrency, it wasn’t just about stopping Bitcoin—it was about controlling money flow in a country where foreign currency is tight and banks are cautious. The Egypt crypto ban, a government restriction on using digital currencies for payments and exchanges. Also known as crypto trading prohibition in Egypt, it targets banks, payment processors, and anyone facilitating crypto transactions. This isn’t a technical rule—it’s a financial control move. The Central Bank of Egypt says crypto threatens monetary policy, fuels black-market forex trading, and exposes citizens to fraud. But here’s the twist: people are still doing it.
The ban doesn’t stop crypto ownership—it stops banks from touching it. So if you hold Bitcoin in Egypt, you can’t use your local bank to buy or sell it. You can’t link your wallet to a Visa card issued by CIB or NBE. That pushes traders to peer-to-peer platforms, cash deals, and unregulated agents. And that’s where the real danger lies. We’ve seen cases where people paid cash for USDT, only to get scammed or arrested. The Central Bank of Egypt, the national financial regulator that enforces the crypto ban doesn’t just warn people—it works with law enforcement to track transactions and shut down operations. Meanwhile, neighboring countries like Nigeria and Kenya are taking a different path—regulating, not banning. The SEC Nigeria, a financial authority that licenses crypto firms instead of banning them shows how regulation can coexist with innovation, while Egypt’s approach creates a shadow market.
What you’ll find in the posts below aren’t just news updates—they’re real stories from people caught in the middle. Some lost money to fake exchanges pretending to be legal. Others got their bank accounts frozen after a single crypto transfer. There are guides on how to spot scams targeting Egyptian traders, comparisons with other banned countries like Bangladesh, and breakdowns of why regulators fear crypto more than cash. No fluff. No hype. Just what’s actually happening on the ground—and how to protect yourself if you’re trying to navigate this space.
Dec
Egypt's Law 194 of 2020 bans all cryptocurrency trading, mining, and promotion without Central Bank approval. No exceptions have been granted, leaving millions of users stranded and startups fleeing the country.
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