Morocco’s central bank is considering CBDC

Morocco’s central bank, Bank-Al-Maghrib (BAM) is investigating the benefits of launching a central bank digital currency (CBDC).

According to Morocco World News, BAM has launched an exploratory committee to investigate the pros and cons of a CBDC four years after banning cryptocurrencies.

Bam’s committee is tasked with investigating the evolution of cryptocurrencies after years of apprehension.

Although bitcoin was officially banned for use in Morocco in 2017, the cryptocurrency continues to be popular in Morocco, with only Nigeria, South Africa and Kenya trading more bitcoins on the African continent.

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