Morocco intends to legalize all cryptocurrencies following the 2017 ban on digital assets.
Reuters has reported that Bank Al-Maghrib, Morocco's central bank, has drafted a bill to regulate cryptocurrencies, which is currently under review.
Adellatif Jouahri, governor of the central bank, has revealed the draft law is in the process of being approved.
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The countrywide ban on Bitcoin and other cryptocurrencies, implemented in November 2017, has only been partially successful, as a significant part of the population still holds digital assets.
In addition to legalizing cryptocurrencies, Morocco's central bank is also exploring the possibility of creating a central bank digital currency (CBDC).