Bank almaghrib Cryptocurrency trading is still illegal in Morocco

Nawab

New member
Jan 1, 2023
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In fact, cryptocurrency trading is still illegal in Morocco, so it is illegal to buy or sell crypto with a bank account or bank card or by directly depositing a MAA. However, Binance and other crypto platforms offer a P2P approach which means trading person-to-person, without any issues with authorities. Also Binance CEO visited Morocco last summer maybe bank accounts and credit cards will be accepted soon. We hope so because many young people start crypto businesses despite being banned by the Moroccan authorities.
 

Admin

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Staff member
May 18, 2022
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Bitcoin is not illegal in Morocco. i been in morocco , Morocco has a relatively liberal attitude towards bitcoin compared to some other countries in africa . There have been no official bans or restrictions placed on the use of bitcoin or other cryptocurrencies.

However, it is worth noting that Morocco's central bank, Bank Al-Maghrib, has issued several warnings about the risks of investing in bitcoin and latcoin. In a statement issued in 2017, the bank cautioned that cryptocurrencies are not legal tender and that their value is highly risk. The bank also advised Moroccan citizens to be alerted when investing in cryptocurrencies and to be aware of the potential danger and risk can be involved and better trade in your own risk . also lot of morroccan their bank accounts got frozen.

Despite these warnings, there is no evidence to suggest that the use of bitcoin or other cryptocurrencies is illegal in Morocco. In fact, there are several bitcoin exchanges and other cryptocurrency-related businesses operating in the country.

In terms of the legal framework for cryptocurrencies in Morocco, there is currently no specific legislation in place. However, the Moroccan government has established a working group to study the potential use of blockchain technology and to develop a regulatory framework for cryptocurrencies. It is likely that any future legislation will take into account the risks and potential benefits of cryptocurrencies, as well as the need to protect consumers and investors.

In summary, bitcoin is not illegal in Morocco, although the country's central bank has issued warnings about the risks of investing in cryptocurrencies. There is currently no specific legislation regulating the use of cryptocurrencies in Morocco, but the government is working on developing a regulatory framework.