Bank Al-Maghrib crypto: What you need to know about Morocco's stance on digital assets

When it comes to crypto, Bank Al-Maghrib, the central bank of Morocco. Also known as Morocco's monetary authority, it has made one thing crystal clear: digital currencies are not legal tender and are strictly prohibited for use in financial transactions. This isn’t a suggestion—it’s a law. Any Moroccan bank, exchange, or payment processor caught facilitating crypto trades risks heavy fines or shutdowns. The bank’s position isn’t about fear of technology—it’s about control. They see crypto as a threat to the national currency, the Moroccan Dirham, and a loophole for money laundering, tax evasion, and capital flight.

That doesn’t mean Moroccans aren’t using crypto. Far from it. Thousands still trade Bitcoin and Ethereum through peer-to-peer platforms like LocalBitcoins or Paxful, often using cash deposits or mobile money to bypass banking restrictions. Some even use VPNs to access foreign exchanges like Binance or Kraken, though they risk account freezes or legal trouble if caught. The central bank digital currency, a government-issued digital version of the Dirham is being explored, but progress is slow. Meanwhile, African crypto laws, a patchwork of bans, gray zones, and cautious experimentation across the continent make Morocco one of the strictest. Nigeria allows licensed exchanges. Ghana permits crypto as an asset class. But Morocco? No gray area. Just a hard wall.

So what does this mean for you? If you’re in Morocco, don’t expect to open a crypto account with your local bank. Don’t trust any local platform claiming to be "approved"—there are none. If you’re an investor outside Morocco, don’t assume there’s a thriving local market. The volume is low, the risk is high, and the legal consequences are real. This isn’t a story of innovation being crushed—it’s a story of a state choosing stability over disruption. The posts below show you exactly how this plays out: from fake airdrops targeting Moroccans looking for quick gains, to scams pretending to be "Bank Al-Maghrib-approved" crypto wallets, to traders sharing how they move crypto without getting caught. You’ll find real cases, not theories. No fluff. Just what’s happening on the ground.