Morocco's Central Bank Finalizes Legal Draft to Legalize Crypto Assets

Morocco's new legislation aims to protect consumers and investors while enhancing market integrity and addressing financial crimes, according to the central bank governor.

Summary

The Governor of the Central Bank of Morocco announced at the African Central Bank Conference that a draft law has been finalized to legalize crypto assets. This law focuses on consumer and investor protection, market integrity, and combating fraud, money laundering, and terrorist financing.

Terms & Concepts
  • crypto assets: Digital assets that use cryptography for security and can represent various forms of value, including cryptocurrencies.
  • money laundering: The process of making illegally obtained money appear legitimate through various financial transactions.
  • terrorism financing: The provision of funds for terrorist activities, which can involve both legal and illegal sources.