Morocco is changing its stance on cryptocurrencies by preparing a legal framework for legalization. This article explores the key aspects of the upcoming regulation and taxation of crypto assets in the country.
Crypto Regulations in Morocco
In late 2024, Morocco announced its preparation for the legalization of cryptocurrency at the federal level. The central bank released updates on the new regulatory framework expected to be implemented by 2025.
Current Status of Crypto in Morocco
Currently, the use of cryptocurrencies, including Bitcoin and NFTs, is considered illegal. However, by 2025, these assets are expected to be regulated under a new legislative framework.
Why Did Morocco Ban Crypto?
The ban on cryptocurrencies in Morocco was driven by concerns over monetary sovereignty, threats posed by financial decentralization, and fears of cryptocurrencies being used for illicit activities.
With growing interest in cryptocurrencies among Moroccan citizens, the government aims to introduce regulation to prevent further illegal activities and foster a favorable environment for fintech development.
