Central Bank of Morocco began discussing the regulation of cryptocurrencies with the IMF

Bank Al-Maghrib Governor believes that the adoption of digital assets is only possible if there is a clear regulatory framework

26.03.2022 - 08:00

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What’s new? The Moroccan Central Bank (Bank Al-Maghrib) Governor, Abdul Latif Al Jawhari, stated that the regulator is in talks with the International Monetary Fund (IMF) and the World Bank on cryptocurrency regulation practices. The Central Bank is also discussing a similar issue with the central banks of France, Sweden, and Switzerland, Unlock Media reports.

Information on the Unlock Media website

What does Al Jawhari say? Despite Moroccans’ interest in cryptocurrencies, the central bank governor believes that their adoption is only possible if there is a regulatory framework in place.

What has already been done to regulate digital assets? The Bank Al-Maghrib has established a council to oversee the necessary regulations for both cryptocurrencies and CBDCs. The council was created in February 2021. Its purpose is to study the implications for Morocco should the decision to switch to cryptocurrencies be made.

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