PANews reported on December 19 that according to Moroccan media Morocco World News, the Governor of the Central Bank of Morocco (BAM), Abdellatif Jouahri, announced that Morocco is about to adopt a legal framework designed to manage the use of crypto assets and encourage financial innovation. At a press conference after the last meeting of the BAM Council in 2024 on Tuesday, Jouahri pointed out that the regulations are not only in line with the latest recommendations of the Group of Twenty (G20), but also address the financial risks associated with crypto assets. He emphasized: "We want to regulate the use of crypto assets without hindering the innovation that its ecosystem can bring."
The framework, developed with technical assistance from the International Monetary Fund (IMF) and the World Bank, aims to balance two core objectives: ensuring a safe and properly regulated environment and promoting innovation. By implementing this legal framework, Morocco hopes to become one of the first developing countries to provide clear and comprehensive regulation for crypto assets, thereby preparing it to meet the economic and financial challenges brought about by the digitization of its monetary system.
Currently, the legal text is undergoing the adoption phase, including a public consultation phase, and will subsequently be approved by the government and parliament.
