Central Bank of Morocco Announces Draft Cryptocurrency Regulatory Law Is Ready

According to Morocco World News, Abdellatif Jouahiri, the governor of the Central Bank of Morocco, announced that the draft law regulating the cryptocurrency market in Morocco is "ready" and will soon be submitted to the Moroccan Capital Market Authority (AMMC) and the Insurance Supervision and Social Security Authority. (ACAPS) and other market stakeholders to negotiate and discuss, and then implement encrypted regulatory documents. Abdellatif Jouahiri stated that the draft legislation “provides a definition for cryptocurrencies adapted to Morocco’s national conditions” and that its purpose “is not to limit innovation, but to protect individuals from the risks associated with trading in a highly speculative market.” Previous news from Foresight News In June, the Central Bank of Morocco said it was working on a cryptocurrency regulatory framework bill and had engaged with the International Monetary Fund (IMF) and the World Bank on the benchmarks to be used.