Cape Verde vs Egypt
Crypto regulation comparison
Cape Verde
Egypt
Legal
Restricted
Cape Verde has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.
Egypt heavily restricts cryptocurrency. The Central Bank of Egypt prohibits banks from dealing in or facilitating crypto transactions, and a 2018 Dar al-Ifta fatwa declared crypto trading haram. However, Egypt's 2020 banking law created a framework that could eventually allow regulated crypto under CBE licensing.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Banco de Cabo Verde (BCV)
Regulator
Central Bank of Egypt (CBE), Dar al-Ifta
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Not applicable under current restrictions
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Crypto not recognized as legal tender
- Limited crypto adoption
- No licensing framework for crypto services
Key Points
- CBE prohibits banks and financial institutions from dealing in cryptocurrency
- Dar al-Ifta issued a 2018 religious ruling (fatwa) against crypto trading
- 2020 Central Bank and Banking Sector Law requires CBE approval for any crypto activity
- Creating or operating a crypto platform without CBE license is illegal
- Despite restrictions, Egypt has significant peer-to-peer crypto activity