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Cameroon vs Morocco

Crypto regulation comparison

← Back to map | Cameroon | Morocco
Cameroon

Cameroon

Morocco

Morocco

Restricted
Restricted

Cameroon has no specific national cryptocurrency legislation. As a CEMAC member, COBAC issued a 2022 directive banning financial institutions from facilitating crypto transactions. BEAC opposes crypto regulation and does not recognize cryptocurrencies. Individual ownership is not explicitly banned but access via formal banking is restricted.

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 No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator BEAC (Bank of Central African States), COBAC
Regulator BAM (Bank Al-Maghrib), AMMC
Stablecoin Rules Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules No regulation; crypto transactions banned by central bank
Key Points
  • No specific national cryptocurrency legislation
  • COBAC 2022 directive bans banks and payment providers from facilitating crypto transactions
  • BEAC firmly opposes cryptocurrency regulation in the CEMAC region
  • Part of the CEMAC monetary zone with the CFA franc
  • Nearly 900,000 crypto users in Cameroon despite restrictive banking environment
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
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