Egypt vs France
Crypto regulation comparison
Egypt
France
Restricted
Legal
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.
France has one of Europe's most developed crypto regulatory frameworks. The PACTE law (2019) established the PSAN (prestataire de services sur actifs numériques) registration regime, now transitioning to MiCA licensing. Crypto gains are subject to the 30% flat tax (prélèvement forfaitaire unique).
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
30%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of Egypt (CBE), Dar al-Ifta
Regulator
AMF (Autorité des Marchés Financiers), ACPR
Stablecoin Rules
Not applicable under current restrictions
Stablecoin Rules
Regulated under MiCA; stablecoin issuers need e-money or credit institution license
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
- 30% flat tax on crypto capital gains (12.8% income tax + 17.2% social charges) for non-professionals
- PSAN registration required by AMF for all crypto service providers (mandatory since 2023)
- Transitioning from PSAN regime to MiCA licensing framework in 2024-2025
- Professional crypto traders may opt for progressive income tax rates
- France is home to major crypto companies including Ledger and Société Générale's FORGE