Morocco Focused on Crypto and General Regulations

The regulation and supervision of cryptocurrencies has become one of the most important agenda items in 2023. Many countries have begun to speed up the necessary legal processes. Especially the US regulators will focus on digital assets in the new year. On the other hand, developments in this direction were also noticeable in Morocco. Abdellatif Jouahiri, President of the Central Bank of Morocco, held a press conference today. At the meeting, he stated that he would act in a planned manner with the organizers. Jouahiri has also signaled towards crypto regulations.

Morocco has accelerated its work in terms of economy and finance. The country’s government plans to move forward with many regulations this year. The Central Bank of Morocco (BAM) has focused on crypto regulations. BAM President Abdellatif Jouahiri stated that he is planning meetings with market participants. Regulatory bodies such as the Moroccan Capital Markets Authority (AMMC), Insurance Supervisory Authority and Social Security (ACAPS) will also attend the meetings.

According to Jouahiri, BAM collaborated with the International Monetary Fund and the World Bank while working on the documents. In previous BAM reports, messages were given that the focus would be on digital assets. BAM’s draft will provide a definition of crypto and aim to protect individuals without restricting innovation.