Bank

2024

Bitcoin

<h4><strong>Abdellatif Jouahri, the governor of Morocco’s central bank, Bank Al-Maghrib, <a href="https://www.reuters.com/technology/morocco-preparing-law-allow-cryptocurrencies-central-bank-chief-says-2024-11-26/" target="_blank" rel="noopener noreferrer nofollow">revealed</a> the news at an international conference in Rabat.</strong></h4>
<p>The country has banned the use of cryptocurrencies like Bitcoin since 2017. But, people still find ways to use them in secret, going around the restrictions. Let’s discover more about this important news for crypto regulation.</p>
<h5><strong>Morocco’s New Law Will Regulate Crypto and Explore a CBDC</strong></h5>
<p>The new law aims to regulate crypto assets, creating rules for how people can use digital currencies. The central bank is also looking into the possibility of launching a <a href="https://www.altcoinbuzz.io/?s=cbdc" target="_blank" rel="noopener noreferrer nofollow">central bank digital currency (CBDC)</a>. Unlike traditional cryptocurrencies, a CBDC would be fully managed by Morocco’s central bank. This would give the government more control over the digital money.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1f2-1f1e6.png" alt="🇲🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> MOROCCO MOVES TO LEGALIZE CRYPTO AFTER 2017 BAN</p>
 <p>Central Bank Governor Abdellatif Jouhari confirmed a draft proposal for systematic adoption, marking a major shift as global crypto markets gain momentum.</p>
 <p>Source: <a href="https://twitter.com/WatcherGuru?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@WatcherGuru</a><br> Media Source: Morocco World News <a href="https://t.co/fWu47Q9qtW" rel="noopener noreferrer nofollow">pic.twitter.com/fWu47Q9qtW</a></p>
 <p>— Mario Nawfal (@MarioNawfal) <a href="https://twitter.com/MarioNawfal/status/1861395281046073682?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 26, 2024</a></p>
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<p>Jouahri explained that many countries are looking into CBDCs to see if they can help with goals like financial inclusion. In simple terms, financial inclusion means making it easier for people, especially those without easy access to banks, to use and store money. By creating a digital currency, Morocco could provide more people with a safe way to save and pay for things online.</p>
<h5><strong>More About Morroco and Crypto Regulation</strong></h5>
<p>While Morocco’s draft law is still under review, it shows that the country is thinking ahead about how to handle the growing popularity of <a href="https://www.altcoinbuzz.io/?s=cryptocurrencies" target="_blank" rel="noopener noreferrer nofollow">cryptocurrencies</a>. Countries all over the world are exploring ways to manage digital money, and Morocco is no exception. The government wants to make sure that people can use digital currencies safely. While also keeping an eye on things like crime and illegal activity.</p>
<p>Here is what Chainlink’s CEO said about stablecoins about CBDCs:</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">What if all Stablecoins, RWAs and CBDCs start being connected to each other and to all the world’s digital assets, across all chains, on one platform/standard set of protocols, because it has all the data connections, identity connections and cross-chain connections they need to… <a href="https://t.co/15J4Ed3sU5" rel="noopener noreferrer nofollow">https://t.co/15J4Ed3sU5</a></p>
 <p>— Sergey Nazarov (@SergeyNazarov) <a href="https://twitter.com/SergeyNazarov/status/1858908207936065692?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 19, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Many other countries are also considering their versions of digital currencies. Central banks believe that digital currency can help speed up payments, reduce costs, and make it easier to track financial transactions. In the U.S., the idea of a digital dollar has also been discussed, and the European Union is exploring the idea of a digital euro.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/morocco-moves-toward-crypto-regulation/" rel="noopener noreferrer nofollow">Morocco Moves Toward Crypto Regulation</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Morocco Moves Toward Crypto Regulation

Altcoin Buzz

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