Will Morocco Take a Step Back on Cryptocurrencies? It May Lift the Ban - Coin Bulletin

The Governor of the Central Bank of Morocco, Abdellatif Jouahri, announced that a new draft law on cryptocurrencies is in the process of being adopted in the country.

It is known that in Morocco, where cryptocurrencies have been banned since 2017, the public continues to use these assets through underground channels.

Jouahri, in a speech at an international conference held in Rabat, said that the Central Bank (Bank Al Maghrib) has prepared a draft law for regulating crypto assets and that this draft is currently in the process of being accepted.

Central bank digital currency (CBDC) research

Jouahri stated that Bank Al Maghrib is not only limited to cryptocurrencies, but also working on a Central Bank Digital Currency (CBDC), and they are researching how this new currency can contribute to public policy goals, especially increasing financial inclusion.

Jouahri said, “Like many countries worldwide, we are examining the extent to which central bank digital currencies can contribute to public policy goals such as financial inclusion.”