Morocco vs Palau
Crypto regulation comparison
Morocco
Palau
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.
Palau has explored blockchain technology and launched a stablecoin program in partnership with Ripple. No income or capital gains tax.
Tax Type
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BAM (Bank Al-Maghrib), AMMC
Regulator
Financial Institutions Commission
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
- Exploring national stablecoin in partnership with Ripple
- No income or capital gains tax
- Uses the US dollar as official currency
- Small but forward-looking approach to digital assets
- Limited domestic crypto infrastructure