Morocco Considers Launching a Central Bank Digital Currency
Morocco’s central bank, Bank-Al-Maghrib (BAM), is investigating the benefits of launching a central bank digital currency (CBDC).
- BAM has launched an exploratory committee to investigate the pros and cons of a CBDC four years after banning cryptocurrencies, according to a Morocco World News report.
- Morocco’s central bank is continuing to take a cautious approach due to the "speculative nature" of cryptocurrencies, the report said.
- BAM’s new committee will seek to identify and analyze the advantages and drawbacks of CDBCs for the Moroccan economy, said the report.
- Previously Morocco has expressed concern around the lack of regulation around cryptocurrencies and warned the use of virtual currencies entails significant risk for users.
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