Morocco is taking a significant step toward regulating cryptocurrencies as the central bank, Bank Al Maghrib, announces a draft law on crypto assets. The governor, Abdellatif Jouahri, revealed during an international conference in Rabat that the proposed law is currently in the process of adoption. This marks a potential shift from the 2017 nationwide ban on cryptocurrencies, which failed to curb their underground usage among the Moroccan public.

The draft law aims to establish a clear framework for managing and monitoring digital assets, addressing the growing demand for cryptocurrencies while mitigating associated risks. This regulatory push aligns with Morocco’s intent to integrate emerging financial technologies responsibly. By replacing the outright ban with structured oversight, the country seeks to ensure safer participation in the global digital economy. If implemented, this legislation could position Morocco as a progressive player in the cryptocurrency space while fostering trust among local and international investors.

Reuters