Morocco considers legalizing all cryptocurrencies

Morocco’s central bank, Bank Al-Maghrib, has drafted a bill to regulate cryptocurrencies, which is currently under review, Reuters reports.

According to the bank’s governor, Abdellatif Jouahri, the new legislation would lift the nationwide ban on Bitcoin and other cryptocurrencies that was enacted in 2017. The ban has proven ineffective, as a significant portion of the population continues to hold digital assets.

Bank Al-Maghrib is also exploring the potential implementation of a central bank digital currency (CBDC).

Morocco is not the first country to move towards cryptocurrency legalization. The UK’s Financial Conduct Authority (FCA) recently published a new roadmap for regulating cryptocurrencies by 2026, revealing that over 12% of British adults already own digital assets.