The governor of Morocco’s central bank, Abdellatif Jouahiri, has announced that the country’s proposed legislation on cryptocurrency is complete and will soon be shared with interested parties.
Jouahiri stated that the goal of the legislation is to protect investors from the risks of cryptocurrency trading and investment.
The Moroccan central bank has consulted with the International Monetary Fund and the World Bank on best practices for cryptocurrency regulation and has established a committee to manage regulation of cryptocurrency and central bank digital currencies.
The bank has also been in discussions with the Moroccan Capital Markets Authority, the Insurance Supervisory Authority, and Social Security, and will consult with these bodies before implementing the new legislation.
The Moroccan central bank believes that the adoption of cryptocurrency by Moroccan citizens is inevitable and therefore the need for a regulated framework is necessary.
