Morocco’s Currency Exchange office carries out crypto enforcements

Morocco’s Office des Changes, The currency exchange office this month began enforcement actions against individuals who were holding crypto assets abroad. This is the first regulatory escalation in the crypto space since Morocco stated it was working on crypto regulations for the country.

In written notifications sent to the individuals concerned, the foreign exchange authority stated that it had identified the constitution of assets abroad in the form of crypto assets, generating sales to Moroccan residents between March and August 2025. Recipients were given thirty days to provide explanations and supporting documentation, after which contentious proceedings could be launched.

Since 2017, the Office des Changes and Bank Al-Maghrib have classified crypto transactions as contrary to exchange control regulations, since they involve the constitution of assets abroad without prior authorization, despite this usage of crypto among individuals has persisted and grown.

In parallel Morocco’s regulatory framework for crypto assets is evolving rapidly and is currently being assessed by the Ministry of Economy. Morocco’s crypto bill has been under progress since 2022.

Bank Al-Maghrib Governor Abdellatif Jouahri has noted that new framework should allow Morocco to exit the current legal ambiguity while positioning the country among the first African regulators to establish a credible crypto governance structure.

In parallel, Bank Al-Maghrib has been conducting its own research into a central bank digital currency, viewing a sovereign CBDC.