Morocco

Crypto’s rising popularity in Morocco

• Coindesk: Bitcoin purchases are soaring… – March 2021
  Cryptocurrencies are banned in Morocco, but peer-to-peer bitcoin (BTC, -1.49%) trading platform LocalBitcoins is reporting all-time trading highs this year. February 2021 was the platform’s “best month ever” in Morocco in terms of trading volumes, according to LocalBitcoins Chief Marketing Officer Jukka Blomberg, who said approximately $900,000 worth of bitcoin was traded on the platform through the month. LocalBitcoins also saw a 30% increase in user registrations between 2019 and 2020, with over 700 new accounts created, Blomberg said.
  
  
• Coindesk: Morocco Considers Launching a Central Bank Digital Currency – February 2021
  Morocco’s central bank, Bank-Al-Maghrib (BAM), is investigating the benefits of launching a central bank digital currency (CBDC).
  
  
• MWN: Morocco to widen access to financial services with technology… – November 2019
  Moroccan Central Bank governor Jouahri noted that fintech is redefining banking services
  
  
• Consultancy: Morocco complete first cross-border securities settlement… – April 2019
  Real-time cross-border settlement with cash coins reduces risks, costs and has the potential to create enhanced liquidity in markets in Africa.
  
  
• Cointelegraph: Construction of Morocco’s 36 MW Bitcoin mining farm… – September 2018
  The Bitcoin mining company intends to leverage local laws by eventually selling at least 20 percent of its electricity output back to the Moroccan government.