Morocco Moves Toward Crypto Regulation with Draft Law and CBDC Exploration

Morocco is taking steps to regulate cryptocurrencies, with a draft law currently in the process of adoption, according to Abdellatif Jouahri, Governor of the country's central bank, Bank Al Maghrib.

Cryptocurrencies have been banned in Morocco since 2017, but underground usage persists as individuals circumvent restrictions. Speaking at an international conference in Rabat, Jouahri revealed that the central bank has prepared legislation to govern crypto assets, signaling a potential shift in the country’s approach to digital currencies.

Exploring a Central Bank Digital Currency

In addition to regulatory efforts, Bank Al Maghrib is investigating the feasibility of a central bank digital currency (CBDC). Jouahri highlighted the potential of a CBDC to support public policy goals, particularly enhancing financial inclusion.