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Cryptorabic

Is crypto legal in Morocco?

Legal status

Banned by regulatorsLast verified:

Crypto is effectively banned in Morocco. Since 2017, the Foreign Exchange Office has said transactions in virtual currencies breach foreign exchange rules and can be punished with fines and sanctions under the texts in force. Morocco is preparing to change this: draft Bill 42.25 would regulate crypto-assets, with licensed service providers supervised by the capital markets authority and the central bank, but it had not been adopted as of our last check.

Currency: Moroccan dirham (MAD)

Regulators

Quick answers

The short version. Each row links to the full answer below.

What does the law say about crypto and Bitcoin in Morocco?

No. Crypto transactions are treated as a breach of foreign exchange rules. Since 2017, Morocco's Foreign Exchange Office has treated transactions in Bitcoin and other virtual currencies as violations of foreign exchange rules, punishable by fines and sanctions. A law to regulate crypto (Bill 42.25) has been drafted but not adopted, so the ban still applies.[1][4]

Can you buy crypto in Morocco, and how?

There is no licensed way to buy crypto yet. Buying crypto is a virtual currency transaction, which the Foreign Exchange Office treats as a breach of exchange rules. Under the draft law, buying would go through licensed providers, but we found no such licences yet.[1][3]

Can you use a bank in Morocco for crypto?

No. Foreign transactions must go through approved intermediaries. The Foreign Exchange Office says financial transactions with foreign countries must go through approved intermediaries and use foreign currencies quoted by Bank Al-Maghrib, which crypto is not.[1]

Is USDT and P2P trading allowed in Morocco?

No. All virtual currency transactions are covered. The Foreign Exchange Office's position covers transactions in virtual currencies generally and does not carve out stablecoins such as USDT or peer-to-peer deals.[1]

Is crypto mining legal in Morocco?

No specific rule found, and excluded from the draft law. We found no Moroccan rule that specifically addresses mining, and the draft crypto law leaves mining out of its scope.[3]

Is crypto taxed in Morocco?

No crypto tax rules found. We found no Moroccan tax rules for crypto, which fits with crypto transactions being treated as a breach of foreign exchange rules.

What are the penalties for crypto in Morocco?

Fines and sanctions under foreign exchange rules. The Foreign Exchange Office says crypto transactions can be punished with the fines and sanctions set by the foreign exchange texts in force. We found no crypto-specific amounts.[1][2]

Which crypto exchanges are licensed in Morocco?

None yet. Licensing would come with the new law. We found no licensed crypto platform in Morocco. Under draft Bill 42.25, the capital markets authority would license crypto service providers once the law is adopted.[3]

How crypto works in practice in Morocco

Despite the ban, crypto use has reportedly grown into a sizeable underground market in Morocco, with industry estimates of around six million holders. That reality is a main reason the central bank and government are pushing a law to bring crypto under regulation.[1][4]

Risks

  • Fines and sanctions for breaching foreign exchange rules
  • No legal protection: losses and scams may not be recoverable

Taking part in this market is illegal in Morocco.

More questions about crypto in Morocco

Can businesses in Morocco accept crypto?

No. Crypto cannot be used as payment.

Details

Crypto payments are currently treated as foreign exchange violations, and even under the draft law crypto would not be legal tender.[1][3]

Earning with crypto in Morocco: what's legal

Is crypto trading allowed in Morocco?

No. Trading is treated as a breach of exchange rules until a new law passes.

Details

Trading crypto currently breaches foreign exchange rules. The draft law would allow it only through licensed providers.[1][3]

Key laws and decisions in Morocco

  • Foreign Exchange Office statement on the use of virtual currencies

    Reference: Office des Changes public statementDate:

    States that transactions made with virtual currencies breach foreign exchange rules and can be penalized with fines and sanctions under the texts in force.[1][2]

  • Draft Bill No. 42.25 on crypto-assets

    Reference: Draft Bill No. 42.25 (Ministry of Economy and Finance)Date:

    Would have the capital markets authority license crypto service providers and supervise token offerings, put stablecoins under central bank oversight, and keep crypto from being a legal means of payment. Mining, central bank digital currencies and NFTs would be outside its scope. As of July 2026 it was still under review, with no date set for sending it to Parliament.[3][4][5]

What changed

  1. Bank Al-Maghrib confirms progress on the crypto law, which remains under review.
  2. Draft Bill 42.25 to regulate crypto-assets is unveiled.
  3. Foreign Exchange Office declares crypto transactions a breach of foreign exchange rules.

Sources

  1. [1] Office des Changes: Statement on the use of virtual currenciesOfficial source
  2. [2] Médias24: Bitcoins, using them is an infringement, says the Office des Changes (21 November 2017)Secondary source
  3. [3] Hespress: Digital assets, what draft Bill 42.25 provides (9 November 2025)Secondary source
  4. [4] Morocco World News: BAM confirms progress on crypto law to curb Morocco's growing underground market (22 July 2026)Secondary source
  5. [5] Médias24: Morocco unveils a draft law to regulate crypto-assets (3 November 2025)Secondary source

Nearby countries

Neighboring countries and others with the same status.

Information, not legal or financial advice. Last verified 14 October 2026.