Cape Verde vs Morocco
Crypto regulation comparison
Cape Verde
Morocco
Legal
Restricted
Cape Verde has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.
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
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Banco de Cabo Verde (BCV)
Regulator
BAM (Bank Al-Maghrib), AMMC
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; crypto transactions banned by central bank
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Crypto not recognized as legal tender
- Limited crypto adoption
- No licensing framework for crypto services
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