Cyptos to boost Morocco’s financial inclusion- Finance minister

Finance minister Nadia Fattah Alaoui said the introduction of cryptocurrencies in Morocco would help promote financial inclusion provided they are governed by a sound legal framework.

The Moroccan central bank said a draft law was undergoing the process of adoption ending a ban that has been in place since 2017.

The central bank was also examining the introduction of a CBDC (Central Bank Digital Currency), a move that the IMF has recommended for central banks.

Despite the ban, digital currencies have been used underground by the Moroccan public. The Moroccan market ranked 13th in 2023 in terms of bitcoin trading.

In November 2024, Bitcoin experienced a significant rally, nearly reaching the $100,000 mark. The cryptocurrency saw a remarkable gain of about 38% for the month, making it one of its best-performing months of the year