Despite the fact that over the past year many world politicians have announced their intentions to regulate Bitcoin in some way, some countries have banned cryptocurrencies. The state is taking measures aimed at preventing the purchase/sale of cryptocurrencies in the region. China has already taken this radical step and Morocco has followed suit.
According to reports, the Moroccan government has decided to immediately ban Bitcoin and, in doing so, completely limit the ability to buy or sell virtual currency.The announcement came in the form of a report from the Moroccan Ministry of Finance, which was titled “Mise au point au sujet de l'usage des monnaies virtuelles” (A detailed look at the use of cryptocurrencies), and explained the ban as follows:
The Bureau des Changes wishes to notify the public of that from now on, cryptocurrency transactions are considered illegal and will be subject to fines provided for by current legislation.
Blockchain technology will almost certainly affect global development over the next decade, however, its accompanying cryptocurrencies and Bitcoin cannot in any way be considered as money.
By declaring virtual currencies illegal, Morocco voluntarily exempts itself from the development of this technology.
According to bitconnect.co
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