By 
A new report by the Policy Center for the New South (PCNS) says that no fewer than 1.15 million people(3.05) percent own cryptocurrencies in Morocco.
Morocco’s foreign exchange regulator, the Morocco Exchange Office, banned cryptocurrency trading in 2017.
This ban goes against the Moroccan Central Bank, BAM’s recent announcement on examining the economic benefits of cryptocurrency adoption.
According to the report titled “The emergence of crypto-currencies in Africa: reality or overvaluation?” –,these users were generating an $8,612 GDP per capita.
Released in December 2022, the survey examines the rate of cryptocurrency ownership and its legality across 33 countries.
The report observed that young people between the ages of 20 and 30 constituted the majority of cryptocurrency users in Morocco.
These groups, also live in the major cities in the country, according to the report.
It further ranked Morocco among the top 7 countries where cryptocurrencies are banned.
This includes Algeria, Egypt, Libya, Morocco, Namibia, Nigeria, and Uganda.
Comments