Is Crypto Legal in Qatar?

Cryptocurrency is prohibited in Qatar for financial institutions and virtual asset service providers. In February 2018, the Qatar Central Bank issued Circular No. (6) of 2018, explicitly prohibiting all financial institutions in Qatar from trading in cryptocurrencies, citing concerns over risks including potential use in financial crimes or cybercrimes (1). In December 2019, the Qatar Financial Centre Regulatory Authority issued an alert prohibiting the conduct of virtual asset services within or from the Qatar Financial Centre (1).

In September 2024, Qatar introduced the Digital Assets Regulations 2024 and Investment Token Rules 2024 to establish a comprehensive framework for digital assets. However, Article 9(2) of the Digital Assets Regulations explicitly states that certain tokens, including cryptocurrencies, are excluded under the regulations (1). The QFCRA confirmed that virtual assets subject to the 2019 alert are "Excluded Tokens" under the new framework, meaning the restrictions remain in place with respect to any such excluded tokens (2).

"Excluded Tokens include virtual assets that do not represent a right in any property or that represents a substitute for currency or another means of payment, such as cryptocurrencies, stablecoins and CBDCs."

Violators are subject to penalties under Law No. (13) of 2012, which promulgates the QCB law and the Regulation of Financial Institutions. These penalties include issuing warnings to mandate corrective actions, imposing fines not exceeding QAR 10 million (about US$2.75 million) per violation, suspending or revoking licenses, and restricting or halting operations until compliance is ensured (1). While Qatar maintains a cautious approach toward cryptocurrencies, the new Digital Assets Regulations provide a legal framework for tokenization of traditional assets like shares, bonds, and real estate, marking significant regulatory advancements in digital asset activities excluding cryptocurrencies (1).

Source:
https://blogs.loc.gov/law/2025/01/regulation-of-cryptocurrencies-in-the-gulf-cooperation-council-gcc-countries-part-two/
https://www.qfcra.com/news/qfc-regulatory-authority-clarifies-that-cryptocurrencies-stablecoins-and-certain-other-virtual-assets-are-excluded-tokens-under-the-new-digital-assets-framework/

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.