Before September 2025, if you wanted to buy Bitcoin in Jordan, you couldn’t do it through a bank. Not even close. The Central Bank of Jordan had made it clear: cryptocurrencies were off-limits. No exchanges, no crypto wallets linked to bank accounts, no deposits in Bitcoin or Ethereum. Yet, thousands of Jordanians still traded crypto - quietly, creatively, and at risk.
Trading in the Shadows
Jordanians didn’t stop buying crypto because the bank said no. They just moved underground. The only way to get in was through peer-to-peer (P2P) platforms like LocalBitcoins, Paxful, or Telegram groups. Someone in Amman would post: "Willing to sell 0.5 BTC for JOD cash." Another person would reply, "I’ll meet you at Starbucks in Abdoun. Cash only. No receipts." These weren’t formal transactions. No KYC. No identity verification. No legal protection. Just two people, a phone call, and a handshake. The seller would hand over a paper slip with a private key or a QR code. The buyer would scan it on their phone, transfer the cash, and leave. If something went wrong - if the seller disappeared after getting the money, or if the buyer got scammed with a fake key - there was no recourse. No customer service. No dispute team. Just silence.Some traders used gift cards to bypass banking limits. They’d buy Amazon or Apple gift cards with cash, then sell them on P2P platforms for Bitcoin. Others swapped crypto for gold or foreign currency through trusted networks. A friend of a friend in Dubai might send them USDT via Telegram, and in return, they’d send cash to someone in Irbid. These chains were fragile, but they worked.
Why the Ban?
The Central Bank of Jordan didn’t hate crypto. They feared chaos. Cryptocurrencies move fast. They’re anonymous. They don’t need banks. And Jordan’s economy is fragile. With high unemployment, a large refugee population, and heavy reliance on foreign aid, officials worried that unregulated crypto could fuel money laundering, capital flight, or even destabilize the Jordanian dinar.They also saw what happened in other countries. Venezuela’s hyperinflation led to mass crypto adoption - but also scams and exploitation. Iran used crypto to bypass sanctions, but also attracted cybercriminals. Jordan didn’t want to become the next case study in financial chaos. So they banned it. No gray area. No exceptions.
But banning something doesn’t make it disappear. It just makes it dangerous.
The Human Cost
The ban didn’t just affect hobbyists. It hit entrepreneurs hard. Talal Tabbaa, who later co-founded CoinMENA - one of the region’s largest crypto platforms - left Jordan because he couldn’t build a legal crypto business at home. He wasn’t alone. Dozens of young developers, blockchain engineers, and fintech founders moved to Dubai, Bahrain, or even Berlin. They took their skills, their ideas, and their ambition with them.Meanwhile, those who stayed had to choose: give up crypto, or risk everything. Some lost savings to fake exchanges. Others got arrested after police traced crypto transactions linked to unlicensed activity. One trader in Zarqa told a local journalist in 2023 that he’d been questioned twice by financial crime units after a P2P buyer reported him for "illegal foreign currency exchange." He wasn’t laundering money. He just sold 0.2 BTC for 500 JOD to pay his rent.
How They Got Around the Rules
Jordanians didn’t need fancy tools. They needed trust, timing, and tactics.- Mobile wallets first: Apps like Trust Wallet and MetaMask didn’t need bank links. You could buy crypto on Binance, send it to your wallet, and hold it - no bank involved.
- Cash meets crypto: Meetups in public places were common. Cafes, parks, even parking lots became informal trading hubs. Some traders used coded messages like "I need 3 apples today" to mean "I want 3 USDT."
- Foreign bank accounts: Many Jordanians opened accounts in Egypt, Lebanon, or the UAE. They’d transfer dinars to a relative abroad, who’d buy crypto and send it back. This wasn’t legal either, but it was harder to trace.
- Stablecoins as lifelines: USDT became the unofficial currency of Jordan’s crypto scene. It held value better than the dinar during inflation spikes. People used it to pay freelancers, buy imports, or even send money to family in Syria.
Some traders even used crypto to pay for basic services. A barber in Madaba started accepting Bitcoin for haircuts. A student in Aqaba sold study notes for USDT. These weren’t businesses. They were survival tactics.
The Turning Point: Law No. 14 of 2025
On September 14, 2025, everything changed. The Virtual Assets Transactions Regulation Law was published in the Official Gazette. For the first time, crypto wasn’t illegal - it was regulated.The law didn’t just allow crypto. It gave it structure. Virtual asset service providers (VASPs) could now get licensed by the Jordan Securities Commission. Exchanges, custodians, payment processors - all had to register, follow anti-money laundering rules, and keep offices inside Jordan. No more shadow trading. No more guesswork.
The law also defined what counted as a virtual asset: Bitcoin, Ethereum, USDT, even NFTs with economic value. But it excluded digital securities and central bank digital currencies. That clarity mattered. People finally knew what was legal and what wasn’t.
What Changed After the Law?
Within weeks, licensed exchanges like CoinMENA and BitOasis launched local Jordanian payment gateways. You could now buy crypto with your Jordanian bank account - legally. No more cash meetups. No more Telegram scams.Banking restrictions didn’t vanish overnight. But they shifted. Banks now had to allow transactions with licensed VASPs. Some even started offering crypto custody services through partnerships. The Central Bank didn’t embrace crypto - it just stopped fighting it.
The underground market didn’t die. But it shrank. People who used to trade in parking lots now used apps with real customer support. Those who lost money to scams finally had legal channels to report fraud. And the brain drain? It started to reverse. Developers who left for Dubai began returning, seeing real opportunities at home.
What Still Doesn’t Work
The law didn’t fix everything. Small traders still struggle with access. Many rural areas have no reliable internet. Older people don’t know how to use wallets. And while banks now allow transactions with licensed platforms, they still don’t promote crypto. Most still treat it like a risky side hustle - not a real asset class.Also, the law doesn’t cover every use case. If you’re trading crypto with a friend and you’re not registered as a VASP, you’re still technically in a gray zone. The law targets businesses, not individuals. But enforcement is still patchy. Police don’t have the tools to track small P2P trades - yet.
The Bigger Picture
Jordan’s story isn’t unique. Countries like Egypt and Kuwait still ban crypto. But Jordan chose to adapt. It didn’t ignore the demand. It didn’t pretend it didn’t exist. It watched what worked in the UAE and Bahrain, then built its own version - slower, safer, more controlled.What happened in Jordan proves something simple: when people want access to money, they’ll find a way. Even when banks say no. Even when the law says no. The only question is: will the system catch up - or will it keep punishing the very people trying to build a better future?
Today, Jordanians can trade crypto legally. But the real victory isn’t the law. It’s that people refused to wait for permission. They traded anyway. And in doing so, they forced change.
Can Jordanians still use P2P crypto trading after the 2025 law?
Yes, but it’s riskier than before. The law doesn’t ban individual P2P trades, but it makes unlicensed platforms illegal. If you’re trading with someone who isn’t a licensed VASP, you have no legal protection. If you get scammed, you can’t file a complaint with the Jordan Securities Commission. Licensed exchanges now offer faster, cheaper, and safer ways to trade - so most people have moved away from informal P2P.
Did the 2025 law make crypto legal for everyone in Jordan?
Yes, but with conditions. Individuals can legally buy, hold, and trade crypto. But only through licensed service providers - exchanges, custodians, or payment processors approved by the Jordan Securities Commission. You can’t set up your own exchange without a license. The law targets businesses, not individuals, but it requires all transactions to go through regulated channels.
Can I use my Jordanian bank account to buy crypto now?
Yes - but only if you’re using a licensed VASP. Banks like Arab Bank and Jordan Kuwait Bank now allow transfers to approved crypto platforms like CoinMENA and BitOasis. You’ll need to complete KYC with the exchange first. The bank won’t let you send money directly to a Bitcoin address or an unlicensed wallet. The system is now filtered through regulation.
What happens if I trade crypto without using a licensed platform?
Nothing immediately - unless you’re caught. The law focuses on punishing businesses that operate without licenses, not individual traders. But if you’re trading large amounts, or if someone reports you for suspicious activity, you could be investigated. The Jordan Securities Commission can freeze assets tied to unlicensed platforms. It’s not illegal to hold crypto, but using unregulated services puts you at legal and financial risk.
Are stablecoins like USDT legal in Jordan now?
Yes. The 2025 law explicitly includes stablecoins like USDT and USDC as virtual assets - as long as they’re not issued by the Central Bank of Jordan. That means you can buy, sell, and use them legally through licensed exchanges. Many Jordanians still use USDT as a stable store of value, especially during inflation spikes. It’s now part of the regulated system.
Can I start a crypto exchange in Jordan today?
Yes - if you meet the requirements. You need to apply for a license from the Jordan Securities Commission, have a registered office in Jordan, comply with AML/KYC rules, and prove financial stability. The process takes 3-6 months. Over 12 companies have applied since the law passed. Only a few have been approved so far, but the door is open. It’s no longer a gray zone - it’s a formal industry.
Katrina Recto
January 10, 2026 AT 13:32People always find a way when they need to. Jordanians didn’t ask for permission-they just built their own system. That’s resilience.
No law can stop human ingenuity when survival’s on the line.
Tiffani Frey
January 10, 2026 AT 14:22What’s wild is how USDT became the unofficial currency-not because it was endorsed, but because it worked. Stable, portable, and invisible to banks. The real financial innovation wasn’t the tech-it was the trust networks that formed around it.
And now? Those same networks are becoming legal pathways. Poetry in motion.
kris serafin
January 11, 2026 AT 06:16Bro. I used to trade crypto in rural India with cash and WhatsApp. Same exact vibe. 😅
People don’t wait for permission. They just do it.
greg greg
January 12, 2026 AT 06:46It’s fascinating how the central bank’s fear of capital flight and money laundering mirrored the exact same anxieties that led to the banning of gold smuggling in the 1970s, or the prohibition of foreign currency trading in the 1980s-each time, the ban didn’t eliminate the behavior, it just pushed it into unregulated, dangerous spaces where the most vulnerable bore the brunt of the risk. The law in 2025 didn’t legalize crypto-it acknowledged that the market had already outgrown the state’s ability to suppress it, and chose to regulate the chaos rather than pretend it didn’t exist. That’s not progress-it’s institutional realism.
Don Grissett
January 13, 2026 AT 23:58Man, this is wild. People were trading crypto like it was street food. Cash for QR codes? At Starbucks? 😂
Jordanians be out here playing crypto chess while the bank was playing checkers.
Mollie Williams
January 14, 2026 AT 05:50There’s a quiet philosophy here: when institutions fail to serve, people create their own. Not out of rebellion, but out of necessity. The blockchain didn’t liberate Jordanians-it merely reflected their desire to be free from broken systems.
And now, the system is bending-not because it was right, but because it had no choice.
Allen Dometita
January 14, 2026 AT 21:39Love this. Real talk: the real winners weren’t the exchanges. It was the barber in Madaba who took BTC for a haircut. The student in Aqaba selling notes for USDT. That’s crypto for the people. Not Wall Street. Not VASPs. Just folks making it work. 🙌
Ritu Singh
January 15, 2026 AT 20:54Let’s be real-this whole thing was a psyop. The Central Bank knew crypto was coming. They banned it to scare people into staying with the dinar. But they didn’t count on WhatsApp and Telegram. Now they’re scrambling to license exchanges like it was their idea all along. The people won. The system just got a new coat of paint.
Veronica Mead
January 15, 2026 AT 21:40It is, without question, a profound failure of governance when a sovereign state must retroactively legitimize an underground economic activity that was already thriving in defiance of its own edicts. The fact that individuals were compelled to risk arrest, financial loss, and social stigma merely to access a basic financial tool speaks volumes about institutional decay and the erosion of public trust. This is not innovation-it is institutional abdication.