Fez – Morocco is moving to strengthen control over crypto-related transactions, as the Exchange Office begins targeting individuals suspected of holding and trading digital assets abroad.
According to le360, the authority has identified violations linked to the “constitution of assets abroad in the form of crypto assets,” followed by their sale to individuals in Morocco.
The transactions in question reportedly took place between March and August 2025, highlighting a growing flow of digital capital beyond traditional financial channels.
Those concerned have been given a deadline of 30 days to provide explanations and supporting documents.
Failure to comply could lead to legal proceedings under Morocco’s foreign exchange regulations, which strictly limit the holding of assets abroad without prior authorization.
This move signals a clear shift toward tighter scrutiny.
Crypto assets, by their nature, operate largely outside conventional banking systems, making them harder to monitor.
For regulators, this creates new challenges in tracking cross-border capital flows and preventing financial violations.
In Morocco, the legal status of cryptocurrencies remains uncertain.
Since 2017, transactions involving digital currencies have been considered a breach of exchange regulations, a position maintained by both the Exchange Office and Bank Al-Maghrib (BAM).
Yet, despite this formal restriction, usage has continued informally, placing crypto activity in a legal grey area.
Authorities are now working to close that gap.
A draft law on crypto assets is currently under review, aiming to establish a structured regulatory framework aligned with international standards.
The proposed system would bring crypto-related activities under the supervision of financial regulators while strengthening user protection.
Abdellatif Jouahri, BAM’s governor, has outlined a cautious yet forward-looking approach.
He has stressed the need to regulate the sector without slowing innovation, acknowledging both the opportunities and the risks, including volatility and potential illicit use.
At the same time, the central bank is exploring the development of a sovereign digital currency, seen as a tool to modernize payments and expand financial inclusion.
This dual strategy suggests Morocco is moving toward a hybrid model: stricter oversight of private crypto assets alongside the potential introduction of a state-backed digital alternative.
For now, until a dedicated legal framework is fully in place, crypto transactions involving foreign assets remain subject to existing exchange laws and, increasingly, to closer inspection.
