Armenia vs Morocco
Crypto regulation comparison
Armenia
Morocco
Armenia adopted a comprehensive Law on Crypto Assets in May 2025, effective July 2025, modeled on the EU's MiCA. The Central Bank of Armenia licenses crypto service providers. Non-entrepreneur crypto gains are tax-free (0%); ECOS Free Economic Zone offers incentives for blockchain startups. Licensing enforcement begins January 2026.
Morocco's central bank (Bank Al-Maghrib) banned cryptocurrency transactions in 2017, making it illegal for financial institutions to process crypto payments. Despite the ban, Morocco has one of the highest crypto adoption rates in Africa. The government has been exploring a potential regulatory framework, with Bank Al-Maghrib reportedly studying a CBDC and reconsidering its crypto stance.
Key Points
- Law on Crypto Assets adopted May 2025, effective July 2025
- Central Bank of Armenia licenses all crypto service providers
- 0% capital gains tax for non-entrepreneur crypto transactions
- Framework modeled on EU MiCA regulation
- Licensing enforcement begins January 31, 2026
Key Points
- Bank Al-Maghrib banned crypto transactions for financial institutions in 2017
- Crypto ownership is technically in a legal gray area; trading happens via P2P
- Morocco ranks among the top crypto adopters in Africa despite the ban
- Government exploring regulatory framework and potential CBDC
- No crypto taxation framework exists due to the ban