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Morocco vs Mongolia

Crypto regulation comparison

← Back to map | Morocco | Mongolia
Morocco

Morocco

Mongolia

Mongolia

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.

Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.

Tax Type None
Tax Type Income
Tax Rate N/A
Tax Rate 10-25%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BAM (Bank Al-Maghrib), AMMC
Regulator Financial Regulatory Commission (FRC) of Mongolia
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
  • Law on Virtual Asset Service Providers (VPSP) adopted December 2021
  • FRC registers and supervises crypto exchanges under VPSP law
  • Over 12 licensed exchanges serving 850,000+ customers
  • Crypto exchange income is taxable and exempt from VAT
  • Mongolia launched blockchain-based OTC securities trading in 2025
Sources
Sources