morocco

ChainCatcher news, according to Zhitong Finance, the governor of the Central Bank of Morocco stated at the African Central Bank meeting held in Rabat that Morocco has finalized a draft law that will legalize the use of crypto assets. The law ensures "adequate protection for consumers and investors, strengthens market integrity, combats fraud, manipulation, money laundering, and terrorist financing, and maintains financial stability."

ChainCatcher news, according to Barrons, French Minister of Justice Gérald Darmanin announced that the mastermind Badiss Mohamed Amide Bajjou, suspected of orchestrating multiple kidnapping cases against French cryptocurrency practitioners, has been arrested in Morocco.The suspect has been subject to a red notice issued by Interpol for charges including kidnapping, extortion, and money laundering. Investigations reveal that Bajjou recruited young people online to form criminal gangs, carrying out several violent kidnapping incidents, including an attempted kidnapping of the daughter of the CEO of Paymium.

ChainCatcher news, Moroccan authorities are cracking down on real estate transactions involving cryptocurrencies. Officials suspect that some individuals are using digital assets to circumvent foreign property purchase regulations. High-value real estate transactions have become a focus of scrutiny, and international companies working with Moroccan agents are also under investigation. Authorities are simultaneously investigating the role of anonymous cryptocurrency exchanges in these transactions.The Central Bank of Morocco is shifting towards cryptocurrency regulation, trying to strike a balance between protection and innovation, but current regulatory efforts have noticeably intensified.

ChainCatcher news, according to Morocco World News, the Governor of the Central Bank of Morocco (BAM), Abdellatif Jouahri, announced that the country is about to introduce a regulatory framework for crypto assets. This framework has been developed with technical support from the International Monetary Fund (IMF) and the World Bank, aiming to balance regulation and innovation.The new framework will align with the latest recommendations from the G20 and will focus on addressing financial risks associated with crypto assets. The bill is currently in the public consultation phase and will subsequently be submitted for government and parliamentary approval.According to a report by Chainanalysis, Morocco currently ranks 20th in the global cryptocurrency adoption index. Research by Insider Monkey in 2023 shows that Morocco ranks 13th among the countries with the highest Bitcoin usage.

ChainCatcher news, according to Bitcoin.com, Moroccan authorities have arrested and detained five individuals suspected of participating in cryptocurrency fraud activities. The police also recovered some funds allegedly related to the scheme, as well as mobile devices used in the crime.The unnamed suspects, aged between 24 and 48, are accused of sending phishing emails to foreign citizens, aiming to extract funds from the victims' cryptocurrency wallets. It is alleged that the stolen funds were subsequently used for personal purposes.Moroccan authorities arrested the suspects after receiving reports through international law enforcement cooperation channels.

ChainCatcher news, according to Cointelegraph, Morocco plans to re-legalize cryptocurrency, after the country imposed a comprehensive ban on cryptocurrency transactions since 2017.

ChainCatcher news, Morocco announces the "Digital Morocco 2030" plan, which aims to invest $1.1 billion, focusing on artificial intelligence (AI) and blockchain technology to promote the digitization of public services, economic growth, and create 240,000 jobs in the digital sector.The strategy also aims to support the development of startups through AI and blockchain platforms and improve Morocco's global ranking in the United Nations Online Services Index from 100th to 50th.In addition, Morocco plans to increase digital export revenue to 41.5 billion dirhams by 2030 and expand 5G coverage to 70% of the country.

ChainCatcher news, Binance announced that Binance Charity will airdrop up to $3 million worth of BNB to users affected by the Morocco earthquake. Binance will determine the affected users based on whether they completed address verification (POA) in the Marrakesh-Safi region of Morocco before September 9, 2023. Users who completed address verification in this region before this date will receive $100 worth of BNB, which will be directly credited to their Binance accounts.For users who complete address verification between September 9, 2023, and September 30, 2023, Binance will directly donate $25 worth of BNB to their Binance accounts. Additionally, for users who are active in trading in Morocco but are not in the affected areas, Binance will airdrop $10 worth of BNB to each user. This donation from Binance will benefit approximately 70,000 Binance users living in Morocco, and the donation funds will start to be credited on September 12, 2023.

ChainCatcher news, the Casablanca Appeals Court in Morocco upheld the conviction of 21-year-old French citizen Thomas Clausi for fraud and illegal use of cryptocurrency. The Moroccan court ultimately sentenced Clausi to a total of 18 months in prison and a fine of $3.7 million.In 2021, French citizen Clausi was accused of fraud after using Bitcoin to purchase a Ferrari luxury car, with the original owner claiming fraud after receiving a payment of $437,000 in Bitcoin from Clausi. He was subsequently arrested for "fraud" and "using foreign currency for payment within Morocco." Moroccan customs considered Clausi's use of cryptocurrency for payment as illegal money transfer.According to data provided by cryptocurrency provider and aggregator Triple A, despite the illegal status of cryptocurrency in the country, Morocco was still the leading country in North Africa for Bitcoin trading volume in 2021. The number of cryptocurrency holders in the country is approximately 900,000, accounting for about 2.4% of its total population (source link)

ChainCatcher news, according to Morocco World News, the Governor of the Central Bank of Morocco, Abdellatif Jouahiri, announced that the draft law to regulate the Moroccan cryptocurrency market is ready and will soon be submitted to various market stakeholders, including the Moroccan Capital Market Authority (AMMC) and the Insurance and Social Security Supervisory Authority (ACAPS), for negotiation and discussion before implementing the cryptocurrency regulatory document.Abdellatif Jouahiri stated that the legislative draft "provides a definition of cryptocurrency that is adapted to the Moroccan context," and its purpose "is not to limit innovation, but to protect individuals from the risks associated with trading in a highly speculative market."It is reported that in June of this year, the Central Bank of Morocco stated that it is developing a draft law for a cryptocurrency regulatory framework and has communicated with the International Monetary Fund (IMF) and the World Bank regarding the benchmarks to be used. (source link)