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Egypt vs Micronesia

Crypto regulation comparison

← Back to map | Egypt | Micronesia
Egypt

Egypt

Micronesia

Micronesia

Restricted
No Regulation

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.

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Central Bank of Egypt (CBE), Dar al-Ifta
Regulator Department of Finance and Administration
Stablecoin Rules Not applicable under current restrictions
Stablecoin Rules No stablecoin regulation
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
Key Points
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources