Morocco to Legalize Bitcoin and Crypto, Reversing 2017 Ban

Nov 26, 2024, 12:21 PM

Morocco is set to legalize cryptocurrencies, including Bitcoin, reversing a ban imposed in 2017. The announcement was made by Abdellatif Jouahri, the governor of Morocco's central bank, Bank Al-Maghrib, during a conference in Rabat on November 26, 2024. Jouahri stated that a draft law to regulate and legalize cryptocurrencies is finalized and undergoing review. According to Reuters, despite the 2017 ban, underground use of cryptocurrencies has persisted in the country. The new legislation aims to provide a legal framework for the use and control of digital assets.