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Morocco vs Paraguay

Crypto regulation comparison

← Back to map | Morocco | Paraguay
Morocco

Morocco

Paraguay

Paraguay

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.

Paraguay has no specific comprehensive crypto law. President Abdo vetoed a crypto regulation bill in 2022. The BCP does not recognize crypto as legal tender. VASPs must register with SEPRELAD for AML compliance since 2020. Paraguay is a significant crypto mining hub due to cheap hydroelectric power from the Itaipu Dam, though bills to restrict mining due to energy theft have been debated.

Tax Type None
Tax Type Income
Tax Rate N/A
Tax Rate 8-10%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BAM (Bank Al-Maghrib), AMMC
Regulator BCP (Banco Central del Paraguay), SEPRELAD
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 comprehensive crypto law enacted; 2022 bill was vetoed by President Abdo
  • Major crypto mining hub thanks to cheap hydroelectric power (Itaipu Dam)
  • VASPs must register with SEPRELAD (anti-money laundering secretariat)
  • Income from crypto activities subject to 8-10% tax rates
  • ANDE (national electricity authority) regulates power consumption for mining operations
Sources
Sources