PANews December 19 news, according to Moroccan media Morocco World News report, the Governor of the Central Bank of Morocco (BAM) Abdellatif Jouahri announced that Morocco is about to adopt a legal framework aimed at managing the use of crypto assets and encouraging financial innovation. At a press conference following the last meeting of the 2024 BAM Board held on Tuesday, Jouahri pointed out that the regulation is not only consistent with the latest recommendations from the G20 but also addresses the financial risks associated with crypto assets. He emphasized: "We hope to regulate the use of crypto assets while not hindering the innovation that their ecosystem may bring."
The framework's development has received technical assistance from the International Monetary Fund (IMF) and the World Bank, aiming to balance two core objectives: ensuring a safe and properly regulated environment, and promoting innovation. By implementing this legal framework, Morocco hopes to become one of the first developing countries to provide clear and comprehensive regulation for crypto assets, thereby preparing for the economic and financial challenges brought about by the digitalization of its monetary system.
Currently, the legal text is in the adoption stage, including a public consultation phase, and will subsequently receive approval from the government and parliament.
