Cryptocurrency in Morocco

    While Morocco has a long-standing ban on digital assets, cryptocurrency has become increasingly popular in the country. Bitcoin, Ethereum and stablecoins such as USDT are traded through peer-to-peer platforms and many users are circumventing restrictions via decentralized finance (DeFi) tools and VPNs. The government has been forced to reevaluate its position on crypto, which has been met with tremendous enthusiasm from Morocco’s youth.

    Crypto provides Moroccans a tool for financial empowerment, remittances and innovation with limited access to international financial services. With the world moving towards digital transformation, Morocco is at a crossroads between regulation and revolution.

    This page is for those that want to trade crypto, startups building fintech, regulators following policy changes and researchers studying blockchain adoption in emerging markets.

    The Current Scene of Crypto in Morocco

    Morocco has quietly grown in crypto adoption under the radar. The country is among the top 20 in global adoption and the second highest in Africa, according to Chainalysis and Insider Monkey. Users keep turning to digital currencies as a viable alternative to limited financial infrastructure, despite government warnings.

    Remittances, investment and online trading are the main uses of digital assets. Without official platforms, Moroccans depend on P2P networks and mobile apps. Other local startups are also using blockchain for payments, NFTs and energy.

    Morocco’s Key Timeline of Crypto Developments

    2017: 

    • The Moroccan Exchange Office prohibits all crypto transactions, calling them a violation of exchange laws.

    2022:

    • The government consults IMF, World Bank, and European regulators on crypto regulation.
    • Bank Al-Maghrib begins drafting a national crypto law.

    2024:

    • November: Central bank governor confirms the law is complete and under review.
    • December: Framework finalized; public consultations initiated

    2025: 

    • Draft enters final adoption phase; parliamentary approval expected.

    Overview of Morocco’s Crypto Market

    While Morocco’s cryptocurrency market is booming, there is no regulatory clarity. Transaction volumes increased by 120% in 2022 and Morocco dominated North Africa in transaction value in 2023. P2P trading and underground investment activity are driving this largely.

    The most popular digital currencies are Bitcoin and Ethereum, as well as stablecoins like Tether and Binance Coin. Users have no local exchange infrastructure and access crypto through global platforms, sometimes through VPNs, and trade on P2P networks such as Paxful.

    Moroccan users are being catered to by local startups that have stepped in to offer services. Morocco’s homegrown Web3 ecosystem is being built by companies like Coineium, Cryptazar and Soluna, which are experimenting with decentralized payment networks, automated trading and energy tokenization.

    The regulation of crypto in Morocco

    The Moroccan government was initially conservative about crypto. In 2017, authorities warned about financial and security risks and imposed a blanket ban. But the country has been nudged toward regulation rather than restriction by public interest and international trends.

    The draft regulation, which was prepared with the IMF and World Bank, is based on global best practices and is in line with frameworks such as the EU's MiCA. Its objective is to find a balance between encouraging innovation and preserving financial stability.

    Regulation in Progress

    • Guidelines on licensing, consumer protection and AML compliance are part of law.
    • Central Bank Digital Currency (CBDC) is also being explored by Bank Al-Maghrib.
    • Regulation is forecasted to officially recognize crypto assets and open up domestic and international investment potential.

    Morocco Crypto Exchanges & Platforms

    Currently, there are no registered crypto exchanges working inside Morocco. Yet, Moroccan users unofficially use global platforms such as Binance, Coinbase and Kraken. Usually, these platforms are accessed via VPNs and are known for their liquidity and ease of use.

    Growing demand is being met by local platforms. Riad Money and Atlas Crypto Trade are startups that provide crypto investment tools, and Coineium is a decentralized trading and payment platform. These are signs of an ecosystem in transition that could thrive once the regulatory path is cleared.

    User experience is different. Global platforms have strong UX but Moroccan users have friction with fiat integration and often use informal channels. Once regulations are established, domestic exchanges should make accessibility and user trust better.

    Cryptocurrency Wallets in Morocco

    There are no regulated local alternatives, so most Moroccan crypto users are using global wallet solutions. For ease of use, especially in DeFi and NFT transactions, hot wallets such as MetaMask and Trust Wallet are preferred. For larger amounts, they are stored safely in cold wallets like Ledger and Trezor.

    Younger users and traders have high adoption. Wallets are mainly used through mobile apps and some newer local projects like Cryptazar are trying to implement integrated wallet solutions.

    Security is still a major issue. Phishing scams, fake token listings and poor security practices are common among Moroccan users. Better protections are expected as crypto education improves and regulations develop.

    Taxation of Cryptocurrency in Morocco

    In mid-2025, Morocco has not passed any specific tax laws on cryptocurrency. Currently, crypto-related earnings (such as profits from trading, staking or mining) are not taxed, and there is no formal reporting requirement.

    With the crypto framework, this is expected to change. The authorities are getting ready to introduce:

    • Taxation of capital gains and income from crypto-related profits.
    • Crypto wallets, trades and business activities reporting standards.
    • Compliance measures for AML and KYC for individuals and exchanges.

    Users may not be aware of future tax obligations for many. Clarity, infrastructure and public education will be needed for the rollout of tax policies to avoid confusion and noncompliance.

    Crypto Community & Education in Morocco

    Organically, the Moroccan crypto community is growing through online groups, social media and educational content. It has become more and more popular, especially among tech enthusiasts and university students. Knowledge sources are still P2P forums and YouTube channels.

    Morocco is open to tech and blockchain innovation, as evidenced by the events like Gitex Africa which are held annually in Marrakech. These events include panels on NFTs, DeFi and crypto trading, and they bring together startups, investors and regulators.

    Blockchain workshops and mentorship programs are starting to be offered by local startups and universities. But formal crypto education is lacking. Closing the skills gap will require collaboration between public institutions and private initiatives.

    The Future of Cryptocurrency in Morocco

    Morocco is at a crucial juncture of its crypto journey. Legalization efforts are ongoing, and it is working with global financial institutions, indicating a willingness to move with the times and embrace modern fintech trends. Executed properly, Morocco could be a leading crypto hub in North Africa.

    Expected outcomes of legalization are:

    • Legal crypto trading with licensed exchanges
    • Taxation and reporting systems that are structured
    • Foreign investment in blockchain startups is greater
    • National crypto infrastructure development and CBDC experimentation

    Morocco’s move from a ban to a structured adoption of fintech is in line with the wider global move to strike a balance between innovation and financial oversight. The next year will be make or break for Morocco’s adoption of digital currency at scale.

    FAQs (Frequently Asked Questions)

    1. Is it legal to use cryptocurrency in Morocco in the year 2025?

    The 2017 directive continues to make cryptocurrency officially illegal. Nevertheless, work on a regulatory framework is coming to an end, and it is set to make crypto activity legal by late 2025 (if given parliamentary approval).

    2. How can Moroccans take part in crypto transactions when they are not allowed by law?

    Many people choose Paxful or LocalBitcoins for P2P trading, or they use VPNs to join international platforms like Binance. Referring to this practice as unauthorized, it is driving the rise of a popular black market for crypto.

    3. When crypto is made legal in Morocco, will it be subject to tax?

    The new regulation will most likely include taxes for crypto income, trading profits and maybe even mining. Users will probably need to inform about their holdings and gains to stay compliant with future taxes.

    4. Is there a law in Morocco against crypto mining?

    Currently, mining has no clear legal rules in Morocco and so is in a questionable legal status. It is likely that the new regulation will have rules about mining, such as for taxes and environmental protection.

    5. Which are the best methods to hold your cryptocurrencies in Morocco?

    Storing your coins long-term is safest when you use Ledger or Trezor. Although hot wallets like MetaMask or Trust Wallet are handy, extra care is needed when connecting to platforms through a VPN.

    6. Is trading crypto in Morocco today against the law?

    Exchanging or using cryptocurrencies breaks today’s laws and this can lead to facing fines. Yet, law enforcement has been slow, and the government is in the process of supporting legalization.

    7. What are the best-known types of digital currencies used in Morocco?

    Most people own Bitcoin and Ethereum, while Tether (USDT) is the next most common. Alternative coins and NFTs are popular in Morocco, mainly because of the platforms that offer DeFi and Web3 services.

    8. Are there startups in Morocco for crypto that I can keep an eye on or back financially?

    Startups including Coineium, Riad Money and Cryptazar introduce advances in fields like online payments, programmed trading and platforms for buying and selling NFTs. These companies are linked to a larger local community looking forward to having clear rules.

    9. Do I need to tell authorities in Morocco if I hold crypto assets?

    After the rules are put in place, individuals and businesses are likely required to report their crypto income and assets following new guidelines for AML and taxes.

    10. Is Morocco considering the use of a digital currency (CBDC)?

    Yes, the central bank (Bank Al-Maghrib) is interested in creating a CBDC as it works towards modernizing its operations. Financial inclusion should improve and the regulations should be complementary to crypto markets.