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Dominican Republic vs Morocco

Crypto regulation comparison

← Back to map | Dominican Republic | Morocco
Dominican Republic

Dominican Republic

Morocco

Morocco

Restricted
Restricted

The Dominican Republic has no specific cryptocurrency legislation. The central bank (BCRD) issued statements in 2017 and 2021 warning that crypto is not legal tender and prohibiting regulated financial institutions from dealing in digital assets under Monetary Law No. 183-02. Individual use is not criminalized but operates in a restricted gray area.

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 Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
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 exists
  • BCRD prohibits regulated financial institutions from dealing in crypto
  • Crypto is not recognized as legal tender
  • No licensing framework for crypto exchanges
  • Crypto gains treated as taxable income when converted to Dominican pesos
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