Saudi Arabia has no crypto licence and no ATM rule, and regulators have not approved virtual currencies since 2018
Saudi Arabia has no crypto-specific law and no licensing regime for retail crypto services. A 2018 government committee statement, published on the SAMA website, said no party was licensed for virtual currency activities. A February 2026 law firm review found no new retail framework. No source reviewed mentions crypto ATMs.
● Grey
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0
Licensed retail crypto providers reported in a February 2026 review
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12 Aug 2018
Date of the committee statement on the SAMA website
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0
Mentions of crypto ATMs in the sources reviewed
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Saudi Arabia has no crypto-specific law and no licensing regime for retail crypto services.2,3 A 2018 government committee statement, published on the SAMA website, said no party was licensed for virtual currency activities.1 A February 2026 law firm review found no new retail framework.3 No source reviewed mentions crypto ATMs.
Last updated: October 2026
Regulatory Framework
The Library of Congress reported in January 2025 that Saudi Arabia had not enacted crypto-specific legislation as of December 2024. It describes crypto as not explicitly prohibited but lacking formal legal recognition, with oversight left to the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA).2
The Anti-Money Laundering Law (Royal Decree No. M/20, 25 October 2017) and the Law on Combating Terrorist Crimes and its Financing (Royal Decree No. M/21, 1 November 2017) do not mention crypto-assets explicitly. The Library of Congress notes that their wide definition of "funds" and the reference to "electronic currencies" in Article 1(4) of the implementing regulations suggest crypto is covered.2 That is an interpretation and not a regulatory ruling.
What Regulators Have Said
| Date | What happened |
|---|---|
| 12 Aug 2018 | A standing committee led by the CMA, with members from the Ministries of Interior, Media and Commerce and Investment, and SAMA, states on the SAMA website that virtual currencies are not regulated and not approved as official currency, and that no party is licensed for such activities1 |
| 2019 | The Ministry of Finance advises against dealing in or investing in virtual currencies, noting they are not legally recognised or regulated (as reported)2 |
| Dec 2024 | No crypto-specific legislation enacted (as reported)2 |
| 26 Feb 2026 | A law firm review finds no standalone licensing regime for retail virtual asset providers and no new comprehensive retail crypto law3 |
The committee statement does not use the word illegal. A 2018 law firm blog reports a SAMA statement saying virtual currencies including bitcoin are illegal in the Kingdom and notes that no penalty was specified.4 The two descriptions differ, and the blog's wording was not matched to a primary text.
Fiat Rails and Payments
A February 2026 law firm review says licensed banks and payment service providers do not support onshore crypto exchange or payment functions. It identifies fiat on-ramps and off-ramps, such as top-ups, fiat balances, withdrawals and remittance, as the main regulatory exposure. Operating a payment system or providing regulated payment services requires SAMA authorisation under the Law of Payments and Payment Services, and the test is functional, not technological.3 The review adds that marketing to users in the Kingdom may draw scrutiny even when core functions run offshore.3
Crypto ATMs
None of the sources reviewed mentions crypto ATMs. The payments law and the lack of a licensed route suggest that a machine taking cash for crypto would meet the same obstacles as other fiat rails, but this is an inference from the sources and was not confirmed by any regulator.3
What Is Not Known
The amount of any penalty for dealing in crypto was not found. The text of the 2018 statement was checked only on the SAMA page, whose date format is ambiguous, and the 2019 Ministry of Finance advice is known only through a secondary source. The CMA position on crypto was not found, and a licensing framework has been rumoured in unofficial sources without an official date. Whether a machine operator could obtain any form of SAMA approval is an open question for Saudi counsel and SAMA.
Sources and references
1. Saudi Arabian Monetary Authority, statement of the standing committee on virtual currencies, dated 12 August 2018 (PRIMARY, date format ambiguous on the page, accessed 8 October 2026) | sama.gov.sa
2. Library of Congress, Regulation of Cryptocurrencies in the Gulf Cooperation Council Countries, Part One, 14 January 2025 (PRIMARY, accessed 8 October 2026) | blogs.loc.gov
3. Zamakhchary & Co via Mondaq, Crypto platforms and fiat rails in Saudi Arabia, 26 February 2026 (SECONDARY, accessed 8 October 2026) | mondaq.com
4. Baker McKenzie, Unauthorized cryptocurrency declared illegal in Saudi Arabia, 15 August 2018 (SECONDARY, accessed 8 October 2026) | bakermckenzie.com
Legal Disclaimer: This article by GENERAL BYTES is for informational purposes only and does not constitute formal legal, financial, or investment advice. Rules may change; always consult specialised local legal counsel and confirm the current position with the Saudi Central Bank and the Capital Market Authority before considering market entry.