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Author Topic: Bitcoin is Officially illeagal in Morocco  (Read 1299 times)
H4M24
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November 21, 2017, 04:27:43 PM
 #1

 Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

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November 21, 2017, 05:02:25 PM
 #2

Morocco is a very small state, and probably the use of bitcoin very quickly destroy its economy. There she was, and not now. There developed banking system. Of course the bankers can't compete with bitcoin and so they lobbied for such a law. Nothing to worry about. If desired the people of this country can go to the next region and to cash out your bitcoins.
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November 21, 2017, 06:11:21 PM
 #3

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
Their regret is valid. Morocco is on its phase to development and can be termed as a developing economy. So if there is a constant use of bitcoin in their economy. Their currency would certainly get devalued. This would stop their inflation and reduce the pace of economic development. Moreover bitcoin makes it easy for people to evade taxes. Therefore, a small state without enough taxes would surely not prosper. This has provoked Govt. to take some strict steps against Cryptocurrency.


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November 21, 2017, 06:20:32 PM
 #4

Too bad, instead of going with the flow of new technology, this government takes the wrong decision. Bitcoin threatening their economy means that there's something wrong. If the economy is really going we'll, they shouldn't be afraid of people using Bitcoin. It's not that much people trading with Bitcoin that it could harm Marocco's economy.

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November 21, 2017, 06:51:32 PM
 #5

Too bad, instead of going with the flow of new technology, this government takes the wrong decision. Bitcoin threatening their economy means that there's something wrong. If the economy is really going we'll, they shouldn't be afraid of people using Bitcoin. It's not that much people trading with Bitcoin that it could harm Marocco's economy.
Yes agree they must not completely ban its usage or declare it illegal a fair amount of control over its usage would be enough to ensure that people don't misuse cryptos. But sometimes govt. just take unhealthy decisions in lust of power. It is very well known that bitcoin is decentralized thus it indirectly threatens the whole system of Governments. Simple reason why they are against it.

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November 21, 2017, 07:03:29 PM
 #6

Maybe it is naive to think that governments and banks will allow people to step outside their system and disrupt it completely.
Besides that, 95% of the population has got no clue what is going on.
They only here Wild West stories about Bitcoin and Co and they have no idea what is about.
When the governments and central banks step in because they say the crypto's are a threat to the current money system and ban them because it is best for the people, 95% of the population will accept that explanation.

Can crypto's been banned?
If a government decides to make trading or possessing Bitcoins/crypto's illegal, questions will be raised about how exactly it will enforce such a ban.
It is impossible for a government to seize your Bitcoins/crypto's, unless you decide to handover your private keys.
However, the fast majority of citizens and institutions like to stay on the right side of the law.
So the demand for Bitcoin/crypto's would plummet if the government decided to ban it.
All exchanges in that country would also be shuttered and buying/selling Bitcoin/crypto's would be very difficult and risky without expert technical knowledge.
This would suffocate Bitcoin/crypto's in that country and the government’s objectives might be achieved.
Then central banks step in and offer their own crypto coin, how convenient for them.
No more cash and everybody is locked up in traceable digital digits.
Convert some of your crypto's in precious metals en hide them from your government.
They will be very valuable once all the cash is removed from the system eventually.
Just in case the scenario unfolds like described above.
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November 22, 2017, 03:37:02 AM
 #7

It is very shocking news that a country like Morocco has illuminated Bitcoin. This will have a great impact on their economy. It is a very risky step and a wrong decision taken by Morocco government. This is not a fair decision to a virtual currency.

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November 22, 2017, 04:00:28 AM
 #8

Honestly, its been one of my fears, that bitcoin would be banned in our country. There are many people who are making a good income from it and it will really have a big impact in the lives of those who are making a living from it. Though there is little chance that it might happen because our government is already looking for some ways to regulate it. For Morocco, maybe they will just lift their decision to ban cryptocurrency if they will see that the rest of the world are embracing it but since there are countries that are against it then they would just go with the flow.

   
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November 22, 2017, 05:05:08 AM
 #9

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

Most Governments Nowadays Are not Easily to Guess what's Running in Their mind. how Would you say so That Bitcoin is Illegal in your Country? Any Reasons why They Ban it? What's the News Within? Did The News Give Reason Why They Ban Bitcoin? Let us Know Mr.OP. or How About You Insert a Link To this Post Regarding To The Issue Here.

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November 22, 2017, 05:33:58 AM
 #10

Another country which has banned the bitcoin. Now it seems country have become stricter and small or big they may consider it as a threat rather than an opportunity for the economy to boost it. As people will pay more tax on their earning from this coins.

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November 22, 2017, 01:02:07 PM
 #11

That's unfortunate. Lucky for me, im not one of the citizen there. Im free to buy and sell Bitcoin whenever i want to. Morroco is not a huge player for cryptocurrencies as far as i know. It's just a small percentage. We should be worried if Japan, US, Korea, China declared ban on cryptocurrencies at their territories. That's an annihilation to the cryptoworld because they are the biggest player of cryptocurrencies around the world. Also some other countries may influence them to follow the same steps also. Guess Morocco government is threatened by Bitcoin. Because it could destroy their banking system. Anyway, their decision is too much. They don't have the capability to regulate Bitcoin. Why don't just follow what other countries do? AML/KYC.

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November 22, 2017, 02:48:58 PM
 #12

Sad news, but even the government of Morocco knows it's not easy to control a ban on the country. People will find ways to continue using it without being tracked, it's a risk, indeed, but despaired people that are in need for money and don't have any other profitable investment or source to survive will have to take the risks and continue using Bitcoins. Maybe at some point the government will see the advantages of Bitcoin and revoke this ridiculous ban.

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November 22, 2017, 03:38:00 PM
 #13

is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.

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November 22, 2017, 05:27:18 PM
 #14

its official and was anounced by the Ministry of Economy and Finance , i have the announcement but its in arabic
and its a sure thing that they can't track all bitcoin users ,but if someone got caught somehow ,the will give em a hard time 

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November 22, 2017, 08:04:15 PM
 #15

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

In less developed and middle-eastern countries, these conditions are normal. Great states like China can only make arrangements. The user in Morocco is already very few. It does not affect Bitcoin.

Protect your bitcoins.

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November 22, 2017, 10:03:31 PM
 #16

I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.

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November 22, 2017, 10:41:18 PM
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I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.

Their tourism must be booming Wink

Up to 1,000 jihadists are thought to have been smuggled back to Morocco and Tunisia from the battlefields of Islamic State’s now crumbling caliphate. About 300 are thought to have returned to Morocco, from where six of the 12 terrorists who carried out the attacks in Catalonia are believed to have hailed.
https://www.theguardian.com/world/2017/aug/20/spain-terror-attacks-isis-morocco

The economic significance of Morocco is non existent, just like their influence on the bitcoin ecosystem. Their ban has given them most international press coverage since that Attack in Spain.

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November 22, 2017, 11:39:12 PM
 #18

I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.

Their tourism must be booming Wink

Up to 1,000 jihadists are thought to have been smuggled back to Morocco and Tunisia from the battlefields of Islamic State’s now crumbling caliphate. About 300 are thought to have returned to Morocco, from where six of the 12 terrorists who carried out the attacks in Catalonia are believed to have hailed.
https://www.theguardian.com/world/2017/aug/20/spain-terror-attacks-isis-morocco

The economic significance of Morocco is non existent, just like their influence on the bitcoin ecosystem. Their ban has given them most international press coverage since that Attack in Spain.
The terrorists could be from any country. The poorer the country the less educated it people, and easier to recruit to carry out terrorist attacks. I do wonder a hundred Moroccan authorities are interested in cryptocurrency. The fact that various governments trying to fight bitcoin only convinces me that we are on the right track.

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November 23, 2017, 12:17:44 AM
 #19

Seems that the banks are already heavily invested in Bitcoin, they will never be able to fully unstop it.

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November 23, 2017, 12:21:41 AM
 #20

is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.

Without a link this news is useless. Why do I come here?

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November 23, 2017, 02:38:07 AM
 #21

The terrorists could be from any country.

But somehow 9 out of 10 happen to be from a muslim country. So theoretically they can be from any country, but in reality we could say they all share a common feature, and that's not poverty.
 

I do wonder a hundred Moroccan authorities are interested in cryptocurrency.
Huh

The fact that various governments trying to fight bitcoin only convinces me that we are on the right track.

There's not that many of them. Actually 99% of the countries are still positive or neutral towards cryptocurrencies. Those that aren't are mainly poor unstable economies, balancing on the edge of a knife, afraid that a single gust of wind might cause them to fall.

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November 23, 2017, 05:50:29 AM
 #22

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
That is bad news for the bitcoin users there, bitcoin has good benefits brings to all people but if government their seeing that bitcoin can destroy their economy they easily banned bitcoin their government has the only one who have power to stop bitcoin.
Just be careful mate or much better to stop using bitcoin if there is already a law that if you caught you will be jailed. Not only bitcoin is the way of earning money just follow the regulation for the better.
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November 23, 2017, 05:22:09 PM
 #23

is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.

Without a link this news is useless. Why do I come here?
The moroccan goverment does not post things on the internet ,they rely on papers and local news :/ ,anyways here is a link where the announcement was analysed better ,im sorry i couldnt explain it well myself, but the guys on this link did it well

https://news.bitcoin.com/morocco/

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November 23, 2017, 07:20:40 PM
 #24

What's unique? So I think most countries in the world. Where did you see the official price tag in bitcoins? Any of the currency law prohibits the use of in-country foreign currency. You can officially exchange it in the Bank for local currency, but the purchase must be only for the national currency. I don't see any ban on use of cryptocurrency in this article.

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November 24, 2017, 09:25:12 AM
 #25

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
That is bad news for the bitcoin users there, bitcoin has good benefits brings to all people but if government their seeing that bitcoin can destroy their economy they easily banned bitcoin their government has the only one who have power to stop bitcoin.
Just be careful mate or much better to stop using bitcoin if there is already a law that if you caught you will be jailed. Not only bitcoin is the way of earning money just follow the regulation for the better.

If it’s possible that government also in our country where we reside to have a regulation which will implement bitcoin to be illegal, well we also can experience the situations of what Morocco is undergoing right now. Bitcoin really has a bigger benefits to people who really wanted a good and easy income, because it do provide the people of each country the additional income at their freedom of financial sustainability. Without bitcoin in the lives of their people in Morocco, I guess the hope that’s been starting to build it brighter future will eventually be a past dreams for them. I don’t see any effect that this decentralized currency will destroy the economy, because if people will earn better well there’s a good options for them to spend and buy local products of the country.

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November 24, 2017, 11:15:45 AM
 #26

What's unique? So I think most countries in the world. Where did you see the official price tag in bitcoins? Any of the currency law prohibits the use of in-country foreign currency. You can officially exchange it in the Bank for local currency, but the purchase must be only for the national currency. I don't see any ban on use of cryptocurrency in this article.
Actually you cannot use Bitcoin or any Crypto currency as medium of payment you can use this stuff in trading site, if you have Crypto currency in your wallet you can change it with Local currency (FIAT) before paying goods and services
In your respective country where you belong if your banking system won’t recognized BTC you change BTC to Dollars first before changing it into your local currency, any government has no control on BTC because it has no boundary as we all knows
The government can control only the local currency circulation with in their respected nation.

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November 24, 2017, 11:25:36 AM
 #27

Do Moroccan citizens require visa to travel to Algeria? If you are a Moroccan citizen and want to trade in Bitcoins, then a good option would be to travel to the nearby Algerian cities (such as Tlemcen or Oran) and make the purchase/sale there (if the amount is big enough). Why risk legal action in Morocco when you can do the same in Algeria?


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November 24, 2017, 02:34:48 PM
 #28

I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.
I totally agree on this which i do observe too that they are too strict on currency control which isnt really surprising that they would really ban bitcoin since they can see it as a threat to their economy. As of now on this day i have seen threads which do officially declare that bitcoin is an illegal stuff. Its sad but those are their decision and we cant do anything about it and for those people who would plan to go on that small estate then be careful specially when you do involve on Bitcoin. Even on local fiat if they see that you are already violating then you would really be sued on that.

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November 24, 2017, 04:51:23 PM
 #29

This is a hasty decision, and this applies to citizens or tourists too?
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November 24, 2017, 06:01:59 PM
 #30

Morocco is a very small state, and probably the use of bitcoin very quickly destroy its economy. There she was, and not now. There developed banking system. Of course the bankers can't compete with bitcoin and so they lobbied for such a law. Nothing to worry about. If desired the people of this country can go to the next region and to cash out your bitcoins.

so you mean they use their money to exchange with bitcoin so the money doesnt stay in their place and spend inside the country. Right?

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November 24, 2017, 07:47:00 PM
 #31

I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.
I totally agree on this which i do observe too that they are too strict on currency control which isnt really surprising that they would really ban bitcoin since they can see it as a threat to their economy. As of now on this day i have seen threads which do officially declare that bitcoin is an illegal stuff. Its sad but those are their decision and we cant do anything about it and for those people who would plan to go on that small estate then be careful specially when you do involve on Bitcoin. Even on local fiat if they see that you are already violating then you would really be sued on that.
Right every country has it's own inside laws about currencies and it's regulation. Morocco has strong law base and I suppose by their laws decentralized currencies just can't be used on their territory or something like Island said towards crypto currencies regulation in their country - they simply counted crypto as foreign currency, which cannot be used in Island by the law. Must be something like that happen, I didn't see any detailed information and reasons of Morocco yet.


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November 24, 2017, 10:53:37 PM
 #32

This is a hasty decision, and this applies to citizens or tourists too?

If it's officially illegal in the country it applies to everyone. You can have coins with you, but you can't trade, register a business that uses cryptocurrencies and such.
You probably wouldn't be able to legally have cryptocurrency in that country if not for its little feature. You don't have it with you when you enter the country, you only have a proof of ownership. You control it but you don't physically take it from place to place so it's impossible to ban it.

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November 25, 2017, 05:21:59 AM
 #33

I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.

Many other African countries have strict currency control.There could be others banning BTC.
I totally agree on this which i do observe too that they are too strict on currency control which isnt really surprising that they would really ban bitcoin since they can see it as a threat to their economy. As of now on this day i have seen threads which do officially declare that bitcoin is an illegal stuff. Its sad but those are their decision and we cant do anything about it and for those people who would plan to go on that small estate then be careful specially when you do involve on Bitcoin. Even on local fiat if they see that you are already violating then you would really be sued on that.
Right every country has it's own inside laws about currencies and it's regulation. Morocco has strong law base and I suppose by their laws decentralized currencies just can't be used on their territory or something like Island said towards crypto currencies regulation in their country - they simply counted crypto as foreign currency, which cannot be used in Island by the law. Must be something like that happen, I didn't see any detailed information and reasons of Morocco yet.
Even no matter how small a certain country it has a law and cant really be underestimate this is why we should respect on their decisions but its sad that bitcoin is already being prohibited and already illegalon that place. Morocco is just really a small place but laws cant be neglected.For sure there are lots of countries would folllow this path since we know every country do have different perspective when it comes to new things which they saw that it can really affect something on their ruling.

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November 26, 2017, 08:24:29 AM
 #34

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

Yes, i also heard this news. Its really shocking news for bitcoin users. In morocco have issued statement that transaction made through any crypto will be punishable by fine.. It is also accentuate that the cryptocurrencies are used to illegal activities.. For this reason morocco is banned all the cryptocurrencies(not only bitcoins)..

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November 26, 2017, 12:34:39 PM
 #35

Bitcoiner should be careful when going to Morocco! Grin

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November 26, 2017, 12:49:44 PM
 #36

Morocco is a country that, with all its will, will not be able to have a serious impact on the world economy. I noticed that underdeveloped countries prohibit crypto currency, because the rulers do not understand what it is and are afraid of everything new. Despite this, the cost of bitcoin is growing all the time.

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November 26, 2017, 02:37:42 PM
 #37

it is officially illegal,but one thing is to declare it illegal the other is to actually enforce it
I am sure this will hit the exchanges and businesses more than common folk
Marocco is not the largest of the countries and frankly,not the cryptocurrency main hub
people will continue to use bitcoin,just will be using foreighn exchanges and pay more in fees to convert to cash
in general,when the goverment decides to ban something,means they do not have other tools to regulate or influence it
sadly,maroccan goverment proven that they are shortsighted

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November 26, 2017, 04:43:15 PM
 #38

This is a hasty decision, and this applies to citizens or tourists too?

If it's officially illegal in the country it applies to everyone. You can have coins with you, but you can't trade, register a business that uses cryptocurrencies and such.
You probably wouldn't be able to legally have cryptocurrency in that country if not for its little feature. You don't have it with you when you enter the country, you only have a proof of ownership. You control it but you don't physically take it from place to place so it's impossible to ban it.

It is clear, then it is better not to tempt fate on vacation if there will drive that is better to do a $ 
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November 27, 2017, 03:20:33 AM
 #39

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

I'm so sad to hear that another country stops bitcoin's innovation. Now I kind of doubting on the future of bitcoin, I just really hope the same thing won't happen in my country. I'm just lucky that I lived in a country where bitcoin is being accepted I guess, and that our governments see that it can bring good effects on our economy. But I don't think they can identify you that you are using bitcoin, so you don't need to worry that much. Unless they can identify every person who makes outgoing transactions using bitcoin.

By the way, thank you for the information, I soon want to travel the world but now Morocco is out of the picture.  Grin

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November 27, 2017, 03:32:56 AM
 #40

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
Their regret is valid. Morocco is on its phase to development and can be termed as a developing economy. So if there is a constant use of bitcoin in their economy. Their currency would certainly get devalued. This would stop their inflation and reduce the pace of economic development. Moreover bitcoin makes it easy for people to evade taxes. Therefore, a small state without enough taxes would surely not prosper. This has provoked Govt. to take some strict steps against Cryptocurrency.
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November 27, 2017, 06:52:04 AM
 #41

I think this is a government decision that deserves appreciation, maybe the government has already considered its decision.
The decision of the Moroccan government will greatly affect the economy of his country and indeed this is a wrong step from the Government of Morocco.
After the Morocco government officially banned bitcoin, i became afraid the government in my country would follow the same decision.
While bitcoin has become the income of many people to meet their daily economic needs.
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November 28, 2017, 07:40:53 AM
 #42

But  making digital currency transactions illegal, it will be really difficult for Morocco to benefit from solutions based on blockchains and cryptocurrencies, since local startups are no longer allowed to work on any of them!!!!
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December 07, 2017, 02:47:03 AM
 #43

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .


That's a very unfortunate fate for Moroccans. I'm not really suprised after all because it it a small country and small countries often banned cryptos so this won't affect bitcoin anything at all.
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December 07, 2017, 09:04:19 AM
 #44

They all have personal views on Bitcoin it's just that Morocco has an infavorable one that could affect its citizens who are Bitcoin and cryptocurrency users. However nothing is permanent and anything illegal can be legalized the only thing they need to do is to see the positive effects of how Bitcoin and Altcoins can effect the economy of a country aside from that they need a politician who will stand with us in creating a law legalizing Bitcoin.

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December 07, 2017, 11:14:54 AM
 #45

They all have personal views on Bitcoin it's just that Morocco has an infavorable one that could affect its citizens who are Bitcoin and cryptocurrency users. However nothing is permanent and anything illegal can be legalized the only thing they need to do is to see the positive effects of how Bitcoin and Altcoins can effect the economy of a country aside from that they need a politician who will stand with us in creating a law legalizing Bitcoin.

This is the sad part. The one that is really affected by countries banning bitcoin is their citizens. I'm sure that there are Moroccan bitcoin community and hearing this is very unfortunately. I think there's really benefit from the government standpoint, citizens trading bitcoin, earn money, have purchasing power in their country = economic growth. However, this kind of government doesn't bother to look at the bright side of bitcoin.

But  making digital currency transactions illegal, it will be really difficult for Morocco to benefit from solutions based on blockchains and cryptocurrencies, since local startups are no longer allowed to work on any of them!!!!

I don't know about blockchain though. Blockchain is the underlying technology. Banks, who we all know hates bitcoin, but are very inclined towards blockchain technology because it has really lots of benefits. I hope that the Moroccan didn't turn their backs on blockchain. Not only banks but other industries as well can take advantage of it. If they completely shun away from bitcoin/blockchain, then they will be left out of the closet, while other nations are getting the best of out it and people making money. Its their lost.

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February 25, 2018, 05:55:54 PM
 #46

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
A guy just just made a video on youtube digging into these laws and found that they were just nonsence ,there are no sign of them in the Moroccan constitution. So i guess we are safe.

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February 26, 2018, 07:38:17 AM
 #47

Nassim Taleb: "For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade."

For those of you who dont recognize his name. He is seriously the greatest thinker in modern finance for about 200 years (no one would ever argue that he is not one of the great, he is in league of about 3 or 4 people). He coined the terms "black swan" and "antifragile." Brilliant writer and thinker.

This is great for Bitcoin because the country has a very significant impact on the market cap. But if Bitcoin continues to be used in Morocco, it will help to prove that govts can't stop Bitcoin.
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February 26, 2018, 11:56:02 AM
 #48

Banned since November 2017

The Moroccan Foreign Exchange Office and the country's central bank have issued a public statement that transactions conducted through digital currency are banned and will be fined. Embarrassed Embarrassed

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February 26, 2018, 12:55:35 PM
 #49

Banned since November 2017

The Moroccan Foreign Exchange Office and the country's central bank have issued a public statement that transactions conducted through digital currency are banned and will be fined. Embarrassed Embarrassed
Any one caught having bitcoins will be punished according to the laws (laws that are sooo old that cant be applied anymore anymore)

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February 26, 2018, 07:29:33 PM
 #50

Well illegal, but not quite. They can't know if you are using it or not. If you try to cash out then it's a different story. I think this will change few years in future. I understand why they are doing it, but it is not logical to do so. Not now not ever.

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H4M24
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February 26, 2018, 08:00:22 PM
 #51

Now that its illeagal is there anyway te securely cashout a big amout of money without being suspected ? Or should i do it little by little ??

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February 26, 2018, 08:58:08 PM
 #52

Well illegal, but not quite.
Illegal is illegal so there's no quite for it.

They can't know if you are using it or not.
You better not gamble yourself with this kind of rules. If someone has a lot of on his cold storage better fly to a country that supports bitcoin.

I think this will change few years in future. I understand why they are doing it, but it is not logical to do so. Not now not ever.
It's possible that ban will be removed and Moroccans can trade crypto's again.

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February 28, 2018, 09:44:07 AM
 #53

For us not living in Morocco this news is nothing because we knew that there's a lot of bigger country and well develop ones that are supporting cryptocurrencies, it's just sad that a some government can't see the benefit of cryptocurrency but rather the threat to their conventional businesses.

futureofeth
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February 28, 2018, 11:40:22 AM
 #54

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

They have taken wrong the decision while other countries are making as one of their legal payment, of course, the small state like Morocco will struggle to get back normal economic growth. But the main thing they need control the flow of Bitcoin and it should not affect their economic growth.

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February 28, 2018, 04:52:23 PM
 #55

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .

They have taken wrong the decision while other countries are making as one of their legal payment, of course, the small state like Morocco will struggle to get back normal economic growth. But the main thing they need control the flow of Bitcoin and it should not affect their economic growth.
Sad to say that they are not open for this kind of world innovation, well we just have to respect the decision of their country since they need them to regulate this or to make illegal, maybe a lot of them were a victim of illegal coins that is why they have to do this rather than spreading the scam all over their country.

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February 28, 2018, 05:28:56 PM
 #56

why some countries are not developed? because they do not want to improve. here is the example ..it is a really sad situation for Moroccans..

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March 01, 2018, 08:34:47 AM
 #57

Well, I think that Morocco's government decided to ban Bitcoin because it's a little country and Bitcoin is actually a real threat to its economy, so I kind of understand its decision.

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March 04, 2018, 07:49:17 AM
 #58

I assume government in Morocco still afraid about bitcoin. The government can't control bitcoin. As I know Morocco government banned cryptocurrency.

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March 04, 2018, 09:10:00 AM
 #59

No surprise here. This is a small country and its economic development process would suffer greatly from this.

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KorakPawon
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March 06, 2018, 08:39:06 AM
 #60

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
Their regret is valid. Morocco is on its phase to development and can be termed as a developing economy. So if there is a constant use of bitcoin in their economy. Their currency would certainly get devalued. This would stop their inflation and reduce the pace of economic development. Moreover bitcoin makes it easy for people to evade taxes. Therefore, a small state without enough taxes would surely not prosper. This has provoked Govt. to take some strict steps against Cryptocurrency.
How virtual currencies could have any “evolution” in Morocco — if using them is banned and subject to punishment — is unclear.

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March 07, 2018, 08:56:19 PM
 #61

Huh its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .
Their regret is valid. Morocco is on its phase to development and can be termed as a developing economy. So if there is a constant use of bitcoin in their economy. Their currency would certainly get devalued. This would stop their inflation and reduce the pace of economic development. Moreover bitcoin makes it easy for people to evade taxes. Therefore, a small state without enough taxes would surely not prosper. This has provoked Govt. to take some strict steps against Cryptocurrency.

I don't agree with you. Most of the countries in this world have developing economy, that mean they all should BAN crypto-currencies and only developed countries Like US, Japan etc have right to to use BTC. In my opinion, BTC will help to boost the economy of a country by making ease in business which will help to develop the economy of a country more faster.

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March 08, 2018, 01:50:36 PM
 #62

The authenticity of this information is not backed by any linking prove so it will not pass as a news. Meanwhile, if it could be true by any chance, could it be because Morocco is an Islamic country. And, is there any Islamic country with such illegal information about bitcoin.

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April 01, 2018, 06:35:04 PM
 #63

Bitcoin is illegal in many countries like nepal, Bangladesh, Ecuador.
But no big economic power except China has announced it illegal yet. As Every country know its power to change economy so countries like US, Russia, India, Australia etc are analyzing its pro and cons before taking any firm decision on it.

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April 02, 2018, 10:47:16 AM
 #64

There is a common belief in the Moroccan cryptocurrency community that there is great potential in their IT arena, especially in the coding and trading of cryptocurrency. This combined with the huge investments they make will advance the Kingdom to be at the forefront of adoption in Africa, if the government will regulate this sector fairly.
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April 02, 2018, 11:35:27 AM
 #65

Bitcoin is illegal in many countries like nepal, Bangladesh, Ecuador.
But no big economic power except China has announced it illegal yet. As Every country know its power to change economy so countries like US, Russia, India, Australia etc are analyzing its pro and cons before taking any firm decision on it.

All the mentioned governments are showing interest towards the Bitcoin and its technology behind it, before proceeding government will check in/out after accepting Bitcoin as legal tender, governments are taking the lot of measures to legalize the Bitcoin but they need to confirm other sectors in order to improve their standards.

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April 02, 2018, 02:12:37 PM
 #66

Because of the new cryptocurrency technology, most countries are still trying to figure out how to adapt to the multitude of digital currencies emerging in the last decade.

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April 02, 2018, 06:02:09 PM
 #67

Because of the new cryptocurrency technology, most countries are still trying to figure out how to adapt to the multitude of digital currencies emerging in the last decade.
They are really still confused and just sees the negative side of bitcoin, sad to say but let us still be positive, we have Japan and Russia who have a great plan in bitcoin, so hoping that some countries will finally remove the ban when they have seen that the project will become successful.

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April 18, 2018, 05:07:44 PM
 #68

Doesn't seem to be a smart move from authorities of Morocco... While many other countries meet cryptocurrencies, they are banning it. I just don't understand it
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