The document is already written by the Central Bank and will be discussed with the industry stakeholders.
The Kingdom of Morocco may see its first crypto bill introduced “in the following days.”
On Jan. 3, during the press conference, the Governor of Morocco’s Central Bank, Bank Al-Maghrib , Abdellatif Jouahiria series of discussions between the BAM and the market participants. Regulators, such as the Moroccan Capital Markets Authority , the Insurance Supervisory Authority and Social Security , will also participate. It will precede the implementation of the crypto law.
According to Jouahiri, the BAM collaborated with the International Monetary Fund and the World Bank while working on the document. Earlier reportsthat Moroccan officials also contacted the central banks of France, Sweden, and Switzerland to study their regulatory experience with digital assets. The draft will offer a definition of crypto, “adapted to Moroccan context,” and aim at protecting individuals while not constraining innovation. Although the bill's details weren’t revealed, it could hardly be more restrictive, than the current legislation, which outlaws the crypto trade altogether.
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