📝 Description
In Egypt, the issuance, trading, and promotion of cryptocurrencies are formally prohibited without prior approval from the Central Bank of Egypt (CBE). Furthermore, the supreme religious authority, Dar al-Ifta, has issued a fatwa declaring cryptocurrencies haram (prohibited by Islam) due to their speculative nature.
As of 2026, no crypto platform or entity has received a license from the CBE. Consequently, there is no applicable tax regime, as the activity itself constitutes a criminal offense.
Essentials of the Situation in Egypt
Category | Legal Status |
Cryptocurrency Status | Illegal (Law No. 194 of 2020 on the Banking System) |
Tax Rate | N/A (No tax framework for a prohibited activity) |
Penalties | Prison and fines from 1 to 10 million EGP |
Local Platforms | Non-existent (No licenses issued by the CBE) |
Foreign Platforms | Prohibited (Banks block transfers) |
Absence of Taxation and the Penal Regime
In Egypt, you will not file a capital gains tax return for your cryptos. The Egyptian Tax Authority (ETA) provides no section to declare this type of income, as the state refuses to recognize crypto as a legal asset or currency.
If the authorities discover that you are making profits through cryptocurrencies:
It is not considered simple tax evasion, but a financial crime.
You risk immediate seizure of your assets, prison sentences, and colossal fines that can reach 10 million Egyptian Pounds (EGP).
The law specifically aims to protect the stability of the local currency (the Egyptian pound has suffered significant devaluations recently) and to combat capital flight.
🔄 Trading, Staking, and Mining
Since the very basis of active possession and exchange is prohibited, there is no legal or tax distinction between making a Crypto-to-Crypto exchange, receiving an Airdrop, or Staking.
All these actions constitute a violation of Law 194 of 2020. Egyptian banks systematically block card payments or bank transfers to international exchange platforms (such as Binance, Kraken, etc.).
⚙️ How does Waltio fit into this context?
In a country where crypto is banned, Waltio obviously cannot generate an Egyptian tax form. However, an Egyptian resident (or an expat on-site) may have a vital interest in continuing to track their operations on the tool:
Preparation for Expatriation: Many investors eventually move to "crypto-friendly" countries (such as the United Arab Emirates or Europe). When they become tax residents of this new country, they will need to justify the source of their funds (Anti-Money Laundering) and prove their initial purchase price. Without the complete history provided by Waltio, the new host country could decide to tax their entire portfolio at 100%.
Performance Tracking: Maintaining an accurate status of asset values on decentralized finance (DeFi) markets, independent of state obligations.
Major Security Warning: This document is provided for informational purposes only. Unlike other countries on this list, interacting with cryptocurrencies in Egypt exposes you to severe criminal prosecution. Waltio does not provide legal advice and does not endorse any illegal activity. We recommend consulting a criminal lawyer or a financial expert in Egypt if you are involved with these assets within the territory.