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Author Topic: Bitcoin is Officially illeagal in Morocco  (Read 1298 times)
supandi wiharja
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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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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.

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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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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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