Morocco has seen significant growth in cryptocurrency transactions, with approximately $14.6 billion recorded between July 2025 and June 2026. According to a report by Chainanalysis, a platform that tracks cryptocurrency transactions, Morocco ranks second in North Africa, behind Egypt, which recorded $18.8 billion. The country's growing interest in cryptocurrency is evident, despite a global decline in the overall value of digital assets.
The report highlights that Morocco's cryptocurrency market has shown resilience, with a 10% increase in transactions, while the global market declined by 33%. This growth suggests that Moroccans are using cryptocurrencies for more than just speculative purposes, but also for practical applications such as cross-border transfers and online transactions. Badr Blag, a Moroccan digital expert and financial analyst specializing in blockchain and cryptocurrencies, notes that the increase in transactions indicates a shift towards more functional and realistic uses of digital assets.
The growth of Morocco's cryptocurrency market is also reflected in its global ranking. In 2021, the country ranked 24th globally, and by 2022, it had risen to 14th. Although the ranking has fluctuated, Morocco has remained among the top 30 countries globally since 2021. The country's progress in regulating the sector has been slow, with the central bank, Bank Al-Maghrib, announcing plans to launch a regulatory framework in 2022.
The Moroccan government has taken steps to regulate the cryptocurrency market, with the Ministry of Economy and Finance publishing a draft law in November 2025. The proposed law aims to establish a regulatory framework for the sector, but it has yet to be finalized. The draft law would require cryptocurrency service providers to obtain licenses and would restrict the issuance of stablecoins to banks and authorized payment institutions.
Despite the regulatory uncertainty, Morocco's cryptocurrency market continues to grow. The country's central bank has emphasized that the use of cryptocurrencies is still subject to restrictions, and individuals and businesses must comply with existing regulations. The bank has also warned that it will continue to monitor the sector and take action against those who violate the rules.
The growth of Morocco's cryptocurrency market has implications for the country's economy and financial sector. The use of cryptocurrencies could provide an alternative to traditional payment systems and increase financial inclusion. However, it also poses risks, such as the potential for money laundering and terrorist financing. The country's regulatory framework will need to balance the need to innovate with the need to protect consumers and maintain financial stability.
Morocco's experience with cryptocurrency regulation highlights the challenges faced by countries in balancing innovation with consumer protection. The country's approach will likely be closely watched by other countries in the region, which are also exploring ways to regulate the sector. As the global cryptocurrency market continues to evolve, Morocco's experience will provide valuable insights into the opportunities and challenges presented by digital assets.
Key points
- Morocco recorded around $14.6 billion in cryptocurrency transactions between July 2025 and June 2026.
- The country's cryptocurrency market has shown resilience, with a 10% increase in transactions, while the global market declined by 33%.
- Morocco's regulatory framework for cryptocurrency is still in development, with a draft law published in November 2025.
