Fri. Jun 21st, 2024

Central Bank of Morocco Set To Unveil Crypto and Bitcoin Regulation Bill

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The central bank of Morocco has announced that the country is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. This will make Morocco first African Central Bank aside CAR to launch a crypto bill.

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The regulatory framework being worked on will result in Morocco’s money laundering and anti-terrorism financing regulations being upgraded.

Also Read : Morocco Leads North Africa In Crypto Trading Volume Despite Govt Ban.

In addition to addressing issues around the regulation of cryptocurrencies, Jouhari hinted that the framework being worked on will also see Morocco’s money laundering and anti-terrorism financing regulations being upgraded.

While the central bank has in the past conceded that Moroccans will likely adopt cryptocurrencies, BAM, alongside the Ministry of Finance and the Moroccan Capital Market Authority, has repeatedly warned of the risks that are associated with the use of cryptocurrencies.

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