Morocco will legalize cryptocurrency

After seven years of total ban, Morocco is preparing to turn around and legalize the use of cryptocurrencies. It is Bank Al Maghrib (BAM) which is leading this change of direction. A bill, currently being adopted, will regulate the use of these digital assets.

Abdellatif Jouahri, the governor of the BAM, confirmed this information during a conference relayed by the Reuters agency. The objective of this text is clear: gradually legalize cryptocurrencies in the country and establish a precise regulatory framework. This turnaround is far from trivial for Morocco, which has applied a very strict policy towards cryptocurrencies since 2017.