Morocco's Exchange Office to ban Virtual currency transactions

Morocco's Exchange Office has announced on Monday, 20 of November, the ban of virtual money transactions, said the financial institution in a statement.

Virtual currency transactions violate the exchange regulations and is punishable by the law, warns the Exchange Office.

The office is urging natural and legal persons that make use of digital money in their transactions to comply with the foreign exchange regulations and carry out their financial transactions through authorized intermediaries using currencies listed by Bank Al-Maghrib.