Research work began four years after the introduction of a ban on cryptocurrency transactions in the country.
Specialists from the Bank of Morocco (BAM) studied the prospects for issuing the central bank’s digital currency (CBDC). Information about this appeared in the local media.
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- To study the advantages and disadvantages of issuing CBDCs for the Moroccan economy, regulators set up a special committee.
- Recall that in the fall of 2017, BAM introduced a ban on operations with cryptocurrencies in the country. Despite this, the statistics of purchases of bitcoin for the local national currency indicate a steady increase in the interest of Moroccan citizens in digital assets.
- While Morocco is busy exploring the possibilities of issuing a central bank digital currency, many countries have moved on to testing a new financial instrument. These include the United States and China.
- Several countries have already issued their own digital currency. For example, a financial instrument appeared in Venezuela and the Bahamas.
We will remind, earlier in the network there was information that Mastercard will issue the first card for the national digital currency. The financial instrument of choice by the payment network was the Bahamas sand dollar.