- Governor of Morocco’s Central Bank launched discussions on crypto legislation
- The Central Bank Moroccan gov’t has already drafted the crypto document
- The proposal will define cryptography and safeguard individuals
Abdellatif Jouahiri, the Governor of Morocco’s Central Bank, Bank Al-Maghrib (BAM), launched a series of discussions between the BAM and market participants at a news conference on January 3. Thus, Morocco may draft its first crypto legislation in the following days.
The proposal will define cryptography and seek to safeguard individuals without stifling innovation. Although the bill’s specifics have not been disclosed, it cannot be more restrictive than the current law, which forbids crypto trading entirely.
Participating regulators include the Moroccan Capital Markets Authority (AMMC) and the Insurance Supervisory Authority, and Social Security (ACAPS). It will precede the crypto law’s implementation.
According to Jouahiri, the BAM worked on this document with the International Monetary Fund and the World Bank. According to earlier reports, Moroccan officials have reached out to the central banks of France, Sweden, and Switzerland to learn about their regulatory expertise with digital assets.
In other news, Binance Ukraine has formed a partnership with ANC Pharmacy, which is among the most prominent pharmacy franchises in Ukraine. This is being done in preparation for the rollout of bitcoin payments via the Binance Pay contactless cryptocurrency payment service.
ANC Pharmacy is a large chain of pharmacies in Ukraine, with over 1,000 locations, and it also maintains its own online pharmacy service. In the beginning, payments using Binance Pay will only be accepted at participating pharmacies in the city of Kyiv, as stated in an official announcement.
