In November 2017, the Kingdom of Morocco became the first North African country to ban bitcoin and other cryptocurrencies. The central bank of Morocco declared that “penalties and fines” will follow any crypto transactions within the country. But last week, Morocco became the first country in North Africa to move toward a cryptocurrency regulation framework bill. By announcing a partnership with the World Bank and the IMF, Bank Al-Maghrib (BAM), the central bank of Morocco, wants oversight of the crypto market. But why did Morocco suddenly change its mind about crypto, and what would be the impact of this move?

Source: The North Africa Journal July 04, 2022 06:03 UTC