What is the story of the new law in Morocco to regulate digital currencies?
After 6 years of an official ban on digital currencies, Morocco is now taking a bold step towards regulating the cryptocurrency market instead of letting it spread without oversight!
What does this mean?
🔹 The government has revealed a preliminary draft law to regulate trading and the use of crypto
🔹 Opening the door for citizens and experts to express their opinions for 30 days
🔹 After that, the draft goes to the Council of Government and then to Parliament
The most notable provisions of the law:
✅ Operating licensed trading platforms within Morocco
✅ Buying and selling digital currencies in exchange for the dirham
✅ Digital wallet and investment services
✅ Companies and banks can provide crypto services after official licensing
✅ Protecting investors and combating fraud and money laundering
What is currently outside the regulation?
⛔ Digital currencies issued by the central bank (CBDC)
⛔ NFTs
⛔ Mining
Why is this important?
Because they have more than one million crypto users
The shift from 'complete ban' to 'smart regulation'
Supporting financial innovation and attracting new companies and technologies
