Cryptocurrency Laws in Saudi Arabia: What You Need to Know Now

When it comes to cryptocurrency laws Saudi Arabia, the official rules governing digital asset use, trading, and taxation within the Kingdom of Saudi Arabia. Also known as Saudi crypto regulations, these rules have changed dramatically in the last five years—from outright bans to cautious oversight. Unlike Egypt or Nigeria, Saudi Arabia didn’t just shut the door. It built a new one—with a license requirement.

The Central Bank of Saudi Arabia, the nation’s financial regulator responsible for monetary policy and financial system stability. Also known as SAMA, it now oversees all crypto activities. No exchange, wallet, or trading platform can operate legally without a license from SAMA. That’s why you won’t find Binance or Coinbase officially listed in Saudi app stores. But you will find local platforms like BitOasis, a regulated crypto exchange serving the Middle East with SAMA-compliant services. Also known as BitOasis Saudi, it operating under strict KYC and AML rules. This isn’t about stopping crypto—it’s about controlling it. The government wants to track every transaction, prevent money laundering, and protect citizens from scams. That’s why they also require all crypto businesses to report user activity to the Financial Intelligence Unit.

And yes, you can still buy Bitcoin, Ethereum, or Solana—but only through licensed platforms. Peer-to-peer trading? Technically illegal. Mining? Not banned, but electricity costs and lack of infrastructure make it impractical. Taxation? The government hasn’t finalized rules yet, but they’re watching. If you make profits from crypto, expect them to ask for proof later. The key takeaway: cryptocurrency laws Saudi Arabia are strict, but not hostile. They’re designed to bring crypto into the light, not bury it. You’re not breaking the law if you use a licensed exchange, verify your identity, and keep records. But if you’re using an unregulated app, a Telegram group, or a fake airdrop site claiming to be Saudi-approved—you’re at risk. The same platforms that get flagged in Egypt or Nigeria are getting blocked here too. That’s why posts about fake airdrops, shady exchanges like Slex or Loop Finance, and unverified tokens like OMIKAMI or OXA show up so often in Saudi user searches. People are looking for safe ways in. This page gives you the real picture: what’s allowed, what’s not, and where the traps are hiding.