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Inside Morocco’s Crypto Paradox: The Bitcoin Remains Prohibited Yet Growing
In November 2017, Morocco’s Ministry of Economy and Finance, Bank Al-Maghrib, and the Office des Changes released a joint statement declaring cryptocurrency transactions illegal. The authorities warned that using bitcoin or other virtual currencies violated Morocco’s foreign exchange rules, left users without legal protection, and exposed them to risks such as fraud, money laundering, and financing of terrorism. Bank Al-Maghrib’s governor at the time described bitcoin as a speculative asset, stressing that it lacked the stability, backing, and transparency needed to qualify as real money. The Office des Changes ... (full story)
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