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Central Bank of Morocco will explore the possibility of issuing digital currency

The central bank of Morocco has set up a special committee to study the prospects for issuing its own digital currency (CBDC). Writes about this Morocco World News.

According to the publication, the regulator is taking a cautious approach to the issue due to the “speculative nature” of cryptocurrencies. Professionals should analyze the advantages and disadvantages of CBDC for the local economy.

What is Central Bank Digital Currency (CBDC)?

Previously, Moroccan authorities have expressed concern about the lack of regulation of the industry. In their opinion, the use of digital assets carries risks for users.

In 2017, the financial regulator banned Bitcoin transactions in the country.

As a reminder, the Bahamas launched a state digital currency called Sand Dollar in October 2020. Payment system Mastercard announced the release of a prepaid card with asset support.

The Reserve Bank of India also became interested in CBDC – they recognized the growing popularity of cryptocurrencies and began to study the potential of the digital rupee.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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