According to Jouahiri, the BAM collaborated on this text with the World Bank and the International Monetary Fund.
In the “coming days,” the Kingdom of Morocco may adopt its first cryptocurrency law. According to Cointelegraph, the Central Bank has already prepared the paper, which will be debated with important stakeholders in the industry.
The governor of Bank Al-Maghrib (BAM), the Moroccan government’s central bank, launched a series of talks with market players on January 3 during a press conference, according to Cointelegraph. The Moroccan Capital Markets Authority (AMMC), the Insurance Supervisory Authority, and the Social Security Administration are participants in the regulating process (ACAPS). The crypto legislation will not take effect until after it.
According to Jouahiri, the BAM collaborated on this text with the World Bank and the International Monetary Fund. According to earlier reports, Moroccan officials also contacted the central banks of France, Sweden, and Switzerland to find out more about how they oversee digital assets, according to Cointelegraph.
The Middle East and North Africa (MENA) area, according to new research from Chainalysis, boasts the world’s fastest-growing cryptocurrency industry, according to Cointelegraph. According to transaction statistics, users in the MENA area got $566 billion in cryptocurrency between July 2021 and June 2022. This is a 48% increase from the previous year.
