Post
Topic
Board Bitcoin Discussion
Re: Morocco to legalize bitcoin and crypto again after ban in 2017
by
avikz
on 26/11/2024, 17:32:12 UTC
In 2017 Morocco outlawed Bitcoin and other cryptocurrencies in their country. Even though they make it illegal in their country, still people in those countries are trading bitcoin and crypto currency under cover. Maybe this is normal because there are many countries around the world where Bitcoin is not legal yet there are many people in those countries who trade Bitcoin freely and secretly.

So recently the Central Bank of Morocco has said it will legalize all cryptocurrencies.

Quote
Morocco’s central bank is also exploring a potential central bank digital currency (CBDC). Its governor, Jouahri, stated:

“Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion.”
https://cointelegraph.com/news/morocco-central-bank-legalize-cryptocurrencies-report

It's good to see that the Central Bank of Morocco woke up suddenly after realising that they can't ban Bitcoin in reality. Bitcoin is structured in a way which makes it almost impossible to ban it in reality. So it's wise for any government to legalize it and impose some tax on it so that they earn some money out of it. Depriving the citizens from innovative things may backfire in future..