Under Law No. 194 of 2020, Egypt bans the issuance, trading, or promotion of cryptocurrencies, including stablecoins, unless pre-approved by the Central Bank of Egypt (CBE). No licenses have been issued to date, effectively maintaining a total prohibition. Violators may face imprisonment or hefty fines, up to EGP 10 million. Religious leaders, including Dar al-Ifta, have also declared crypto "haram," heightening resistance to digital assets.
While crypto isn't outright banned in law, in practice it's treated as illegal, leaving stablecoins completely off the table. Egypt is also exploring a digital pound (e-GPB) on a CBDC, possibly by 2030, but that's a state project, not private stablecoin issuance.
