Morocco’s bank that is central (BAM) is investigating some great benefits of introducing a central bank electronic currency (CBDCs).
BAM has launched an committee that is exploratory research the professionals and cons of the CBDC four years after banning cryptocurrencies, according to a Morocco World News report.
Morocco’s bank that is main continuing to take a careful approach as a result of the “speculative nature” of cryptocurrencies, the report stated. BAM’s committee that is new seek to identify and evaluate the advantages and downsides of CDBCs for the Moroccan economy, said the report.
Previously Morocco has expressed concern round the lack of regulation around cryptocurrencies and warned the usage of virtual currencies requires danger that is significant users.
Although bitcoin (BTC, +1.48%) was banned for use in Morocco four years back, the cryptocurrency continues to thrive in the country, with just Nigeria, South Africa and Kenya being the only real countries which can be african trade more bitcoins.