Muslim Countries where Bitcoin is Legal or Illegal
Is cryptocurrency legal in your country? Want to know the legality of cryptocurrency in other Muslim countries? With the expansive growth of cryptocurrency worldwide, many governments are now developing laws to deal with the use of cryptocurrencies by their citizens.
Below you will find a list of Muslim countries along with the legal ruling of cryptocurrency by their governments.
Bitcoin Legality in Africa
Algeria | Illegal - The Financial Law of Algeria rules cryptocurrency as illegal. |
Burkina Faso | |
Djibouti | No information found. |
Egypt | Illegal - Grand Mufti of Egypt, Mufti Shawki Allam has ruled Bitcoin to be haram. |
Gambia | No clear ruling on its legality, but Bitcoin is bought and used in Gambia. |
Guinea | |
Guinea-Bissau | |
Lybia | Illegal - Central Bank of Libya rules Bitcoin as illegal. |
Mali | |
Mauritania | No information found. |
Morocco | Illegal - The Foreign Exchange Office has ruled Bitcoin illegal. |
Niger | |
Senegal | No ruling on crypto but the Senegalese government is exploring their own crypto currency. |
Somalia | No information found. |
Sudan | No clear ruling on its legality, but the country is actively adopting digital payments in addition to cash payments. |
Tunisia | No clear ruling on crypto and the Central Bank of Tunisia has denied that it is launching their own digital currency. |
Bitcoin Legality in Asia
Afghanistan | No clear ruling on its legality, but the Afghanistan Chamber of Commerce and Investment is exploring blockchain technology to bring accuracy and transparency to Afghanistan government databases. |
Bangladesh | Illegal - The Central Bank of Bangladesh has banned cryptocurrency in 2017, yet in 2020 the Bangladesh government has developed a National Blockchain Strategy for their country. |
Brunei | |
Indonesia | Legal - Not recognized as legal tender but the Indonesian government says it is permissible to use and trade. |
Kazakhstan | Unclear - Kazakhstan government leans toward banning cryptocurrencies, but is developing laws to regulate blockchain technology. The Kazakhstan government is also seeking to legalize crypto-mining as a means to generate investment revenue for the government. |
Kyrgyzstan | The National Bank of the Kyrgyz Republic is in the process of legalizing crypto by developing laws to regulate buying, selling, trading and mining cryptocurrency. |
Malaysia | |
Pakistan | Legal - Not regulated - Not recognized as legal tender but permissible to use. Khyber Pakhtunkhwa government is building a crypto mining farm. |
Tajikistan | No government ruling on crypto. The National Bank of Tajikistan warns against the use of crypto and does not recognize crypto as legal tender. |
Turkmenistan | No information found. |
Uzbekistan | Illegal - Buying and selling cryptocurrency is banned, but the government has established a blockchain development fund called, Digital Trust, to use blockchain technology in the country's public sector. |
Bitcoin Legality in Europe
Albania | The Albanian government is moving towards legalizing cryptocurrency by passing a law called, Financial Markets Based on Distributed Ledger Technology. |
Azerbaijan | No government ruling on crypto and the Central Bank of Azerbaijan has warned citizens about the risks of cryptocurrencies. |
Bosnia and Herzegovina | Legal - Not regulated - Not recognized as legal tender but permissible to use |
Bitcoin Legality in the Middle East
Bahrain | Legal - Legal to buy, sell, and trade crypto. The Central Bank of Bahrain has recently issued a license to operate a sharia compliant cryptocurrency exchange in their country. |
Iran | Legal - Legal to buy, sell, and trade crypto, but the local media warns of risk and volatility in the crypto market. |
Iraq | Illegal - The Central Bank of Iraq has banned the use of cryptocurrency and those who use it will be punished under the Anti-Money Laundering law. |
Jordan | Legal - Legal to buy, sell, and trade crypto but not supported by the government. The Central Bank of Jordan has prohibited all financial companies in dealing with virtual currencies. |
Kuwait | No clear ruling on its legality. The Central Bank of Kuwait prohibits dealing with crypto even though there is a crypto exchange that operates in Kuwait called DigiDinar. |
Lebanon | Legal - Legal to buy, sell, and trade crypto but there is no government regulation. Central banks may put restrictions on buying crypto and crypto buying is mostly done peer to peer and not through exchanges. |
Oman | Legal - Legal to buy, sell, and trade crypto but there is no government regulation. The Central Bank of Oman warns that those who use crypto currency do so at their own risk and have no protection from the central bank or banking law of the country. |
Palestine | Legal - Legal to buy, sell, and trade crypto. The Palestinian Monetary Authority is seeking to develop their own digital currency. |
Qatar | Illegal - The Qatar Financial Centre Regulatory Authority (QFCRA) has banned all activity with virtual assets except assets known as security tokens that are issued by the QFCRA. |
Saudi Arabia | Legal - Legal to buy, sell, and trade crypto, but the Saudi Arabian Monetary Authority warns against deal with cryptocurrency. |
Syria | Legal - Not regulated - economic sanctions are increasing use of crypto in the country. |
Turkey | Legal - Legal to buy, sell, and trade crypto, but the Central Bank of the Republic of Turkey bans using cryptocurrency for payments. |
United Arabs Emirates | Legal - Legal to buy, sell, and trade crypto, and the Financial Services Regulatory Authority has been proactive in developing regulations for virtual assets. |
Yemen | Legal - Not regulated - being used by locals because of sanctions on Yemen, yet difficult to use due to lack of internet infrastructure within the country. |
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