According to a Monday report by Bitcoin News, the apex bank is consulting with global financial institutions on a regulatory framework to oversee the activities of the market. In particular, BAM’s governor Abdellatif Jouahri disclosed that the financial institution had engaged with the International Monetary Fund (IMF) and the World Bank on specific benchmarks.
In a recent statement, BAM admitted that cryptocurrencies were becoming increasingly popular. However, it cautioned consumers to be aware of the risks associated with the industry. The latest attempt at regulating the sector will likely not be an outright ban of cryptocurrencies but a move to combat money laundering and anti-terrorism financing.
Recall that BAM’s governor had previously said that adopting cryptocurrencies in Morocco was a matter of “when” not “if.” In a press conference held on March 23, he said:
Continue reading on BTC Peers
Source: Cryptocurrency - investing.com
