Morocco criminalizes dealing with Bitcoin

Morocco criminalizes dealing with Bitcoin

That the informatics division of the Directorate General of National Security intervened, under the instructions of the Ministry of the Interior, to stop the activities of foreigners showing that they were using relatives in Morocco to extract money from bank accounts after the promotion of virtual currencies in suspicious ways.

According to the same news, searches carried out by the security services in a Casablanca villa house in Brazil resulted in the seizure of a card containing more than two million dirhams, obtained from the promotion of the virtual currency "Bitcoin" by a suspect residing in Europe The Moroccan accused is charged with collecting the material in Morocco.

The dealing in virtual currencies, especially the "Bitcoin" was available in Morocco until a few days ago.

But with the government authorities in the country recently to take a formal decision, prevents the circulation of this currency, which exceeded the price of one of the 9 thousand dollars, has become dealing with the exposure of citizens to penalties and fines.

Morocco's decision to ban the "Baton" did not come from a vacuum, but came with the growing number of users who deal with them, which could expose them to great risks, thus becoming one of the first Arab countries to criminalize the work of those currencies, which caused a major financial crisis in recent times.

Morocco fears its economy and its domestic currency, as a result of foreign exchange through the virtual currency trade, which may at some point reduce foreign exchange supply.

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