Morocco vs Syria
Crypto regulation comparison
Morocco
Syria
Restricted
Banned
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.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
No
Regulator
BAM (Bank Al-Maghrib), AMMC
Regulator
Central Bank of Syria
Stablecoin Rules
No regulation; crypto transactions banned by central bank
Stablecoin Rules
No 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
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions