Morocco moves toward lifting crypto ban

On November 26, Morocco moved closer to lifting its 2017 ban on cryptocurrencies, a decision that could influence broader market trends. "Morocco lifting ban on cryptocurrencies. China could be next!" said cryptocurrency influencer Lark Davis on X.

According to Bank Al Maghrib, Morocco's central bank, a draft law to regulate crypto assets is currently in the adoption phase. The law aims to provide transparency and security to the growing digital finance sector. Governor Abdellatif Jouahri said, "Bank Al Maghrib has prepared a draft law regulating crypto assets, which is currently in the adoption process," during an international conference in Rabat.

Morocco is also exploring the development of a central bank digital currency (CBDC) as a state-managed alternative to decentralized cryptocurrencies. Jouahri noted, "Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion." These efforts position Morocco as a potential leader in responsible cryptocurrency regulation with broader implications for other countries, including China.

Lark Davis' post | X