Morocco: Bill to Regulate Use of Cryptocurrencies is Ready (Governor)
Speaking at the press briefing following BAM’s 4th and final quarterly meeting of 2022, Jouahri stressed that the full draft is ready to put in place a proper regulatory framework.
« Discussions are to be held with all stakeholders, including the Moroccan Capital Markets Authority (AMMC) and the Insurance and Social Security Supervisory Authority (ACAPS), » said the Governor of BAM.
« We proceeded to a specific definition of the cryptocurrency and prepared a general public survey that details the specifics and use of this virtual currency in Morocco, » he said.
It should be recalled that BAM, the Ministry of Economy and Finance, and the AMMC have drawn the public’s attention to the risks associated with the use of virtual currencies, including mainly the lack of consumer protection, the volatility of the exchange rate of these virtual currencies against a legal tender, in addition to the use of these currencies for illicit or criminal purposes, including money laundering and terrorist financing.
