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Author Topic: Bitcoin is Officially illeagal in Morocco  (Read 1365 times)
darkangel11
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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.

veleten
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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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Megavolt220
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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 $ 
Vastraint
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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

saevol
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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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