Morocco
Like Iraq, Morocco too banned the trading of all cryptos way back in November 2017. Office des Changes, the nation’s regular currency, made it clear about the country’s take on digital currencies. The Government’s Ministry of Finance made it crystal clear that payment via cryptos will result in heavy penalties.
But despite the country’s take, research has shown that nearly 2.4 percent of the entire population owns cryptos in Morocco. Unfortunately, there haven’t been any changes in the laws.
7 Countries Where Crypto is Banned
Countries Where Crypto is Banned: Cryptocurrency has taken the entire world’s financial system by storm and has become one of the trending topics in today’s world.
It is slowly growing as a digital asset, with more and more people investing in different currencies. Along with that, several investment banking institutions and centralized banks fear losing control with the Decentralized Finance (DeFi) system slowly coming into existence. While Bitcoin is the ocean’s shark, several other coins have come up in the cryptocurrency market. In recent times, there’s also hype about metaverse and NFT. Thus, a lot is going on in the online world.
Now gone are the days when you only used to have shares or real estate to invest your money.
Cryptos and all the projects built on cryptocurrencies attract investors who are willing and intelligent enough to accept the change. The change seems to be inevitable in the way the world is progressing.
List of Cryptocurrency Banned Countries
- Qatar
- Bangladesh
- China
- Algeria
- Iraq
- Morocco
- Vietnam