Morocco Remains An African Crypto ‘Trading Hub' Despite State Ban
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Loading... - Farida Jabrane
- 29 Jul 2022
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Despite the nationwide ban on the ownership and trading of crypto assets in Morocco, the country remains a continental trading hub, ranking fourth on the continent in terms of ownership and trading volume.
According to data from Useful Tulips, a crypto-focused data provider, Morocco follows only Nigeria, South Africa, and Kenya in Africa. The North African country even outperforms Egypt.
Morocco first banned the ownership and trading of digital assets in November 2017, when the crypto market was attracting the attention of governments, as it experienced its first boom.
At the time, Morocco’s Foreign Exchange Office, the country’s foreign trade watchdog, issued a warning that mirrored that of other governments, arguing that crypto assets were “unregulated,” “volatile,” and could potentially expose users to fraud. Read More...
