The Central Bank of Morocco announced that the draft law for cryptocurrency regulation is ready

2023-01-03 12:29:40

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ChainCatcher news, according to Morocco World News, the Governor of the Central Bank of Morocco, Abdellatif Jouahiri, announced that the draft law to regulate the Moroccan cryptocurrency market is ready and will soon be submitted to various market stakeholders, including the Moroccan Capital Market Authority (AMMC) and the Insurance and Social Security Supervisory Authority (ACAPS), for negotiation and discussion before implementing the cryptocurrency regulatory document.

Abdellatif Jouahiri stated that the legislative draft "provides a definition of cryptocurrency that is adapted to the Moroccan context," and its purpose "is not to limit innovation, but to protect individuals from the risks associated with trading in a highly speculative market."

It is reported that in June of this year, the Central Bank of Morocco stated that it is developing a draft law for a cryptocurrency regulatory framework and has communicated with the International Monetary Fund (IMF) and the World Bank regarding the benchmarks to be used. (source link)

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