• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Morocco Cautiously Considers Introducing Cryptocurrency

by CBDC Insider
February 21, 2021
in Africa, Business
Reading Time: 1min read
0
Morocco Cautiously Considers Introducing Cryptocurrency
Share on FacebookShare on Twitter

Rabat – Morocco’s central bank, Bank-Al-Maghrib (BAM), has established an exploratory committee to investigate the merits of a central bank-run cryptocurrency.

Cryptocurrencies have experienced widespread attention since the success of bitcoin. The virtual currency, run via blockchain technology, was initially roundly mocked but now stands at a total value of almost $1 trillion.

This year alone bitcoin has gained 81% in value, with a single bitcoin now priced at over half a million dirhams (roughly $53,000). With changing global opinions and attitudes toward bitcoin, Morocco’s BAM is having another look at the technology.

RELATED STORIES

Russia’s Gazprombank Recommends Slow CBDC Rollout Fearing Loss of Income

Russia’s Gazprombank Recommends Slow CBDC Rollout Fearing Loss of Income

February 8, 2023
E-Rupee to be Piloted by 5 More Banks in 9 More Cities Soon

E-Rupee to be Piloted by 5 More Banks in 9 More Cities Soon

February 8, 2023

Although bitcoin was officially banned for use in Morocco in 2017, the cryptocurrency continues to be popular in Morocco, with only Nigeria, South Africa and Kenya trading more bitcoins on the African continent.

The growing popularity of bitcoin will be a topic of investigation for BAM’s new committee as Morocco’s central bank can no longer ignore the growing prominence of cryptocurrencies used worldwide.

Read more: https://www.moroccoworldnews.com/2021/02/335538/morocco-cautiously-considers-introducing-cryptocurrency/

Previous Post

Morocco Considers Launching a Central Bank Digital Currency

Next Post

Banks Will Be Required to Work with Crypto, e-Money and CBDCs to Survive

Next Post
Banks Will Be Required to Work with Crypto, e-Money and CBDCs to Survive

Banks Will Be Required to Work with Crypto, e-Money and CBDCs to Survive

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register