Cryptocurrency in Saudi Arabia: no ban, no licence, no framework
In short. A standing committee of Saudi regulators warned in 2018 that virtual currencies are not approved or licensed in the Kingdom, and that sentence still describes the position eight years later. No law makes holding crypto an offence, and no regime exists to license anyone who wants to serve you. Banks may not process crypto transactions. A stablecoin framework announced in late 2025 has produced no rulebook.
- EXPLICIT BAN
- Noneno law prohibits an individual from holding
- LICENSED PROVIDERS
- Noneno regime exists to license them
- BANKS
- Barredfrom processing crypto transactions
- OFFICIAL POSITION
- Not approvedregulators have warned since 2018
- STABLECOIN FRAMEWORK
- Announced, unpublishedat the policy-design stage
- LEGAL TENDER
- Nothe riyal stays the only legal money
What the regulators have actually said
A standing committee drawn from the central bank, the capital market authority and other bodies issued its warning in 2018: virtual currencies carry no approval or licence from any authority in the Kingdom, and anyone dealing in them does so outside regulatory protection.
Neither regulator has moved since. The central bank has repeated its cautions to the public and the capital market authority has warned against trading crypto-assets, and neither has written a rule that makes owning them an offence.
Most countries land on one side or the other. Saudi Arabia sits in the space between: your own holding is lawful, and any institution that might handle it for you has nowhere to get authorised.
Banks may not move your money
Saudi banks may not process crypto transactions, and that single restriction does most of the work a prohibition would do.
Wiring riyals to an exchange through a Saudi account is unreliable, no local platform holds an authorisation, and no domestic custodian will take your keys. Saudis who trade use foreign platforms and personal arrangements. If one of those goes wrong, no Saudi regulator supervises the venue and none is answerable for what happened to your money.
A stablecoin framework without a rulebook
In late 2025 a minister announced plans for nationally regulated stablecoins under the joint oversight of the central bank and the capital market authority, framed as part of the Vision 2030 programme.
By the middle of 2026 the two regulators had published no rulebook and the framework remained at the design stage. The capital market authority has been working on tokenisation separately, which tells you where the Kingdom is heading without telling you when it arrives.
Read announcements about Saudi crypto licensing against that record. Officials have described plans several times over; regulators have issued no rules.
What this means if you are moving there
The Kingdom leaves your holding alone and gives you nothing to do with it.
You keep what you own, the state has criminalised nothing, and the Vision 2030 programme makes an eventual framework plausible. Set against that, you have no local exchange, no bank that will move money for you, no custodian, and no regulator to complain to. Anyone planning to run a crypto business should wait for the rulebook rather than the announcement.
Allowed
- Own crypto as an individual, since no law makes holding it an offence
- Use foreign platforms, which is the only practical route available
- Follow the tokenisation work the capital market authority has under way
- Hold riyals for everything else, since crypto has no payment status here
Restricted
- Expecting a Saudi bank to process a crypto transaction
- Finding a licensed local exchange or custodian, since neither exists
- Relying on regulatory protection, which the 2018 warning rules out
- Treating the announced stablecoin framework as operative, since no rules exist
How the rules took shape
A standing committee of regulators warns that virtual currencies are not approved or licensed in the Kingdom.
The central bank and the capital market authority repeat their cautions without creating a licensing route.
A minister announces plans for nationally regulated stablecoins under joint central bank and capital market authority oversight.
The rulebook remains unpublished and the framework stays at the design stage.
Whether the Kingdom converts the announcement into rules, and on what timetable.
Worth knowing
Publicly the central bank warns citizens away from crypto; in parallel the state invests in blockchain infrastructure and renewable-powered mining inside the NEOM project.
Common questions
Is crypto illegal in Saudi Arabia?
No law makes holding it an offence. Regulators have warned since 2018 that virtual currencies are not approved or licensed, which is a different thing from a prohibition.
Can I use a Saudi bank for crypto?
No. Banks may not process crypto transactions, which is the practical barrier most people run into.
Are any exchanges licensed here?
None. The Kingdom has built no regime to license them, so any platform you use is a foreign one.
What about the stablecoin plans?
A minister announced them in late 2025 under joint central bank and capital market authority oversight. No rulebook has followed, and the framework remains at the design stage.
What tax applies?
The Kingdom has written no crypto tax rules, which follows from having no regulatory framework. Take local advice before relying on that.
Sources
Other countries
Updated 21.08.2026 · this is reference material, not investment or tax advice