فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
In a new step towards regulating digital assets, the Bank of Morocco announced the imminent adoption of a draft law aimed at regulating cryptocurrencies in the country. This announcement was made by the Governor of the Bank of Morocco, Abdellatif El Jouahri, during an international conference held in the capital Rabat, where he indicated that the project seeks to establish a legal framework for defining cryptocurrencies in the Moroccan context.
The draft law aims to protect individuals from the risks associated with the highly speculative cryptocurrency market, while simultaneously seeking to encourage innovation in this field. To ensure the comprehensiveness of the legislative process, the Bank of Morocco is interacting with several national regulatory bodies, including those overseeing capital and insurance.
This step comes against a backdrop of a turbulent relationship between Morocco and cryptocurrencies, as the government had previously banned their use in 2017. Despite this ban, the market continued to grow underground, with a significant number of Moroccans participating in cryptocurrency trading.
Globally, this initiative aligns with recent trends in Africa, where several countries are seeking to develop regulatory frameworks for cryptocurrencies, with the aim of enhancing financial inclusion and combating illegal activities. Additionally, the Bank of Morocco is exploring the possibility of launching a central bank digital currency, which could further support financial inclusion goals.
This project represents a significant shift in Morocco’s approach to digital assets, aiming to integrate cryptocurrency activities into the formal economy and protect citizens from risks associated with unregulated markets. This development is expected to open the door to more innovation and economic opportunities in the country, as it embraces modern financial technologies.
Source: Fes News
