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Morocco vs Saudi Arabia

Crypto regulation comparison

← Back to map | Morocco | Saudi Arabia
Morocco

Morocco

Saudi Arabia

Saudi Arabia

Restricted
Restricted

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.

Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate 0%
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator BAM (Bank Al-Maghrib), AMMC
Regulator SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules No regulation; crypto transactions banned by central bank
Stablecoin Rules No regulation; crypto trading not authorized
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
  • SAMA has not authorized or licensed any cryptocurrency exchanges
  • Financial institutions warned against crypto transactions
  • Crypto not explicitly banned but not regulated; exists in a legal gray area
  • No personal income or capital gains tax in Saudi Arabia
  • Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
Sources
Sources