Illegal Crypto in Egypt: Risks, Bans, and What You Need to Know

When you hear illegal crypto Egypt, the use of cryptocurrency in Egypt is prohibited by law and treated as a financial crime. Also known as crypto prohibition in Egypt, it means holding, trading, or mining digital assets can trigger legal action from the Central Bank of Egypt and the Public Prosecution. Unlike countries that regulate crypto, Egypt treats it like unlicensed banking — no licenses, no legal protection, no exceptions.

Why? Because the government fears losing control over the financial system. The Central Bank of Egypt, the nation’s monetary authority that enforces strict currency controls sees crypto as a threat to the Egyptian pound and a tool for capital flight. In 2020, they officially declared all cryptocurrency transactions illegal, and since then, banks have been ordered to block accounts linked to crypto exchanges. Even sending crypto to a friend can be flagged as money laundering under Egypt’s Anti-Money Laundering Law. The crypto seizures, government confiscations of digital assets and mining hardware have grown yearly, with reports of smartphones, laptops, and mining rigs being taken during raids. There’s no official list of banned coins, but Bitcoin, Ethereum, and stablecoins like USDT are the most targeted because they’re easiest to trace and hardest to hide.

People still use crypto in Egypt — mostly for remittances, saving against inflation, or buying goods overseas. But they do it in the shadows: peer-to-peer trades over WhatsApp, cash deposits at unofficial exchangers, or using VPNs to access foreign platforms. The risk? High. Arrests have happened. Bank accounts frozen. Fines up to 5 million EGP (around $100,000). And if you’re caught mining? Your equipment is seized, and you might face prison time. There’s no legal way to convert crypto to cash in Egypt. Even if you buy Bitcoin on Binance, you can’t cash out without breaking the law.

What you’ll find below are real cases, warnings, and lessons from people who’ve been caught — and those who learned the hard way. These aren’t theoretical guides. They’re stories from the front lines of Egypt’s crypto crackdown. Whether you’re trying to understand why it’s illegal, how authorities track users, or what happens if you get caught, the posts here give you the unfiltered truth. No sugarcoating. No speculation. Just what’s actually happening on the ground.