Morocco is studying the legal inclusion of cryptocurrencies in its financial system, which would allow citizens to use them on a daily basis.

In this advance in the legalization of cryptocurrencies, the country’s central bank, Bank Al Maghrib, prepared a “draft law to regulate activities with cryptocurrencies.”

Global institutions such as the World Bank participated in its drafting. The intention is to “formalize the use of cryptocurrencies in a way that mitigates risks, encourages innovation and guarantees consumer protection.”

Undoubtedly, issues such as the local financial context, “volatility, lack of safeguards for consumers and their possible misuse in illegal activities” are still pending to be addressed.

M.Pino

Source: cripto247

(Reference image source: Paul Macallan on Unsplash)

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