Morocco’s central bank, Bank Al-Maghrib, led by Governor Abdellatif Jouahri, is set to adopt a new legal structure for crypto assets. This framework balances regulation with the need for financial innovation, following G20 guidelines.
The World Bank and IMF have provided vital technical assistance in developing this framework. Their support ensures that Morocco’s approach effectively mitigates risks associated with cryptocurrency usage while encouraging innovation within the sector.
In 2023, Morocco was ranked 13th worldwide in Bitcoin usage, signifying significant engagement in the crypto market. The adoption of this framework will require public consultation and final approvals from parliament and the cabinet to implement effectively.