Egypt vs Cambodia
Crypto regulation comparison
Egypt
Cambodia
Restricted
Restricted
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.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
Unclear
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Central Bank of Egypt (CBE), Dar al-Ifta
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
Not applicable under current restrictions
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
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
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant