Egypt vs Equatorial Guinea
Crypto regulation comparison
Egypt
Equatorial Guinea
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.
Equatorial Guinea has no specific cryptocurrency regulation. As a CEMAC member, it falls under BEAC oversight.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of Egypt (CBE), Dar al-Ifta
Regulator
BEAC (Bank of Central African States)
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 national cryptocurrency legislation
- BEAC provides regional monetary oversight
- Part of the CEMAC monetary zone with the CFA franc
- Limited crypto adoption
- No licensing framework for crypto businesses