Morocco vs Montenegro
Crypto regulation comparison
Morocco
Montenegro
Restricted
Legal
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.
Montenegro has no specific crypto law but crypto is not prohibited. Working toward EU candidacy and potential MiCA alignment. Capital gains taxed under general provisions.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
9-15%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BAM (Bank Al-Maghrib), AMMC
Regulator
Central Bank of Montenegro, Capital Market Authority
Stablecoin Rules
No regulation; crypto transactions banned by central bank
Stablecoin Rules
No specific stablecoin regulation
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
Key Points
- No specific cryptocurrency legislation but crypto is legal
- Working toward EU candidacy and MiCA alignment
- Capital gains on crypto taxed at 9-15%
- Central Bank has acknowledged crypto without banning it
- Growing interest in crypto-friendly policies