Topic: Bitcoin is Officially illeagal in Morocco - page 4. (Read 1707 times)
This is a hasty decision, and this applies to citizens or tourists too?
I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.
Many other African countries have strict currency control.There could be others banning BTC.
I totally agree on this which i do observe too that they are too strict on currency control which isnt really surprising that they would really ban bitcoin since they can see it as a threat to their economy. As of now on this day i have seen threads which do officially declare that bitcoin is an illegal stuff. Its sad but those are their decision and we cant do anything about it and for those people who would plan to go on that small estate then be careful specially when you do involve on Bitcoin. Even on local fiat if they see that you are already violating then you would really be sued on that. Many other African countries have strict currency control.There could be others banning BTC.
Do Moroccan citizens require visa to travel to Algeria? If you are a Moroccan citizen and want to trade in Bitcoins, then a good option would be to travel to the nearby Algerian cities (such as Tlemcen or Oran) and make the purchase/sale there (if the amount is big enough). Why risk legal action in Morocco when you can do the same in Algeria?
What's unique? So I think most countries in the world. Where did you see the official price tag in bitcoins? Any of the currency law prohibits the use of in-country foreign currency. You can officially exchange it in the Bank for local currency, but the purchase must be only for the national currency. I don't see any ban on use of cryptocurrency in this article.
Actually you cannot use Bitcoin or any Crypto currency as medium of payment you can use this stuff in trading site, if you have Crypto currency in your wallet you can change it with Local currency (FIAT) before paying goods and services In your respective country where you belong if your banking system won’t recognized BTC you change BTC to Dollars first before changing it into your local currency, any government has no control on BTC because it has no boundary as we all knows
The government can control only the local currency circulation with in their respected nation.
its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .Just be careful mate or much better to stop using bitcoin if there is already a law that if you caught you will be jailed. Not only bitcoin is the way of earning money just follow the regulation for the better.
If it’s possible that government also in our country where we reside to have a regulation which will implement bitcoin to be illegal, well we also can experience the situations of what Morocco is undergoing right now. Bitcoin really has a bigger benefits to people who really wanted a good and easy income, because it do provide the people of each country the additional income at their freedom of financial sustainability. Without bitcoin in the lives of their people in Morocco, I guess the hope that’s been starting to build it brighter future will eventually be a past dreams for them. I don’t see any effect that this decentralized currency will destroy the economy, because if people will earn better well there’s a good options for them to spend and buy local products of the country.
What's unique? So I think most countries in the world. Where did you see the official price tag in bitcoins? Any of the currency law prohibits the use of in-country foreign currency. You can officially exchange it in the Bank for local currency, but the purchase must be only for the national currency. I don't see any ban on use of cryptocurrency in this article.
is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.
Without a link this news is useless. Why do I come here?
https://news.bitcoin.com/morocco/
its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .Just be careful mate or much better to stop using bitcoin if there is already a law that if you caught you will be jailed. Not only bitcoin is the way of earning money just follow the regulation for the better.
The terrorists could be from any country.
But somehow 9 out of 10 happen to be from a muslim country. So theoretically they can be from any country, but in reality we could say they all share a common feature, and that's not poverty.
I do wonder a hundred Moroccan authorities are interested in cryptocurrency.
The fact that various governments trying to fight bitcoin only convinces me that we are on the right track.
There's not that many of them. Actually 99% of the countries are still positive or neutral towards cryptocurrencies. Those that aren't are mainly poor unstable economies, balancing on the edge of a knife, afraid that a single gust of wind might cause them to fall.
is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.
Without a link this news is useless. Why do I come here?
Seems that the banks are already heavily invested in Bitcoin, they will never be able to fully unstop it.
I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.
Many other African countries have strict currency control.There could be others banning BTC.
Many other African countries have strict currency control.There could be others banning BTC.
Their tourism must be booming
Up to 1,000 jihadists are thought to have been smuggled back to Morocco and Tunisia from the battlefields of Islamic State’s now crumbling caliphate. About 300 are thought to have returned to Morocco, from where six of the 12 terrorists who carried out the attacks in Catalonia are believed to have hailed.
https://www.theguardian.com/world/2017/aug/20/spain-terror-attacks-isis-morocco
The economic significance of Morocco is non existent, just like their influence on the bitcoin ecosystem. Their ban has given them most international press coverage since that Attack in Spain.
I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.
Many other African countries have strict currency control.There could be others banning BTC.
Many other African countries have strict currency control.There could be others banning BTC.
Their tourism must be booming
Up to 1,000 jihadists are thought to have been smuggled back to Morocco and Tunisia from the battlefields of Islamic State’s now crumbling caliphate. About 300 are thought to have returned to Morocco, from where six of the 12 terrorists who carried out the attacks in Catalonia are believed to have hailed.
https://www.theguardian.com/world/2017/aug/20/spain-terror-attacks-isis-morocco
The economic significance of Morocco is non existent, just like their influence on the bitcoin ecosystem. Their ban has given them most international press coverage since that Attack in Spain.
I'm not surprised. Morocco has very strict currency regulations. If you enter Morocco with, say $10,000, it's illegal to leave it with more than that. And it's even harsher with the local currency. I think you can't leave Morocco with $200 in dirhams, that's illegal.
Many other African countries have strict currency control.There could be others banning BTC.
Many other African countries have strict currency control.There could be others banning BTC.
its really a shoking news ,now we could go to jail for using any crypto currency and its just a retard decision knowing that its comming from the same country who kept boasting about launching their first satelite and being a future proof country... anyways for anyone comming to morocco be careful ,the prisons here are already crouded .In less developed and middle-eastern countries, these conditions are normal. Great states like China can only make arrangements. The user in Morocco is already very few. It does not affect Bitcoin.
Protect your bitcoins.
its official and was anounced by the Ministry of Economy and Finance , i have the announcement but its in arabic
and its a sure thing that they can't track all bitcoin users ,but if someone got caught somehow ,the will give em a hard time
and its a sure thing that they can't track all bitcoin users ,but if someone got caught somehow ,the will give em a hard time
is this an officially endorsed position with some real legislation or the usual thing where it's a central bank interpreting existing laws they have no control over? 9.9 times out of 10 it's the latter.
Sad news, but even the government of Morocco knows it's not easy to control a ban on the country. People will find ways to continue using it without being tracked, it's a risk, indeed, but despaired people that are in need for money and don't have any other profitable investment or source to survive will have to take the risks and continue using Bitcoins. Maybe at some point the government will see the advantages of Bitcoin and revoke this ridiculous ban.
That's unfortunate. Lucky for me, im not one of the citizen there. Im free to buy and sell Bitcoin whenever i want to. Morroco is not a huge player for cryptocurrencies as far as i know. It's just a small percentage. We should be worried if Japan, US, Korea, China declared ban on cryptocurrencies at their territories. That's an annihilation to the cryptoworld because they are the biggest player of cryptocurrencies around the world. Also some other countries may influence them to follow the same steps also. Guess Morocco government is threatened by Bitcoin. Because it could destroy their banking system. Anyway, their decision is too much. They don't have the capability to regulate Bitcoin. Why don't just follow what other countries do? AML/KYC.
Another country which has banned the bitcoin. Now it seems country have become stricter and small or big they may consider it as a threat rather than an opportunity for the economy to boost it. As people will pay more tax on their earning from this coins.
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