Botswana vs Morocco

Crypto regulation comparison

← Back to map | Botswana | Morocco
Botswana

Botswana

Morocco

Morocco

Legal
Restricted

Botswana passed the Virtual Assets Act in 2022, first African country to issue crypto licenses. NBFIRA supervises VASPs. 4 licensed entities as of 2024. Penalties up to P250,000 or 5 years imprisonment.

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.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Regulator BAM (Bank Al-Maghrib), AMMC
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No regulation; crypto transactions banned by central bank
Key Points
  • Virtual Assets Act enacted in 2022, effective Feb 22, 2022
  • First African country to issue crypto licenses via NBFIRA
  • 4 licensed VASPs as of December 2024
  • Bank of Botswana assesses domestic crypto risks as minimal
  • Unregistered crypto dealers face fines up to P250,000 or imprisonment
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
Sources
Sources