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– Just In: Morocco plans to officially legalize cryptocurrencies

According to the head of the country’s central bank Abdelatif Jouari, Morocco is developing new rules regarding cryptocurrencies.

Cryptocurrencies have been officially banned in Morocco since 2017, but their use in the country continues through underground channels as citizens circumvent existing restrictions.At an international conference in Rabat, Juahri said that the central bank Bank Al Maghrib is working on a bill aimed at regulating cryptoassets, which is currently under consideration for adoption.

The possibility of introducing a central bank digital currency (CBDC) is also being considered.

Juahri explained that Morocco, like many other countries, is exploring the potential benefits of a CBDC, particularly its ability to support public policy goals such as promoting financial inclusion.