Cambodia vs Morocco
Crypto regulation comparison
Cambodia
Morocco
Restricted
Restricted
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
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
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
National Bank of Cambodia (NBC), SERC
Regulator
BAM (Bank Al-Maghrib), AMMC
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Stablecoin Rules
No regulation; crypto transactions banned by central bank
Key Points
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant
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