Morocco is planning to legalize cryptocurrencies after banning them in 2017. The government will create a regulatory framework to ensure safe adoption of digital currencies and reduce risks. The Bank Al-Maghrib (BAM) and the International Monetary Fund (IMF) and the World Bank are working together to develop this framework.
Morocco banned cryptocurrencies in 2017 because they worried about illegal activities, money laundering, tax evasion, and terrorist financing. Despite the ban, many Moroccans still used cryptocurrencies. Now, the government wants to legalize the industry and protect users while encouraging innovation and attracting investment in blockchain technology.
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