Amidst CBN’s crypto ban, Morocco’s central bank considers launching own digital currency

A Central Bank Digital Currency (CBDC) is the digital form of a country's fiat currency that is also a claim on the central bank.

Morocco’s central bank, Bank Al-Maghrib (BAM), is considering launching a central bank digital currency (CBDC), according to CoinDesk. A Central Bank Digital Currency (CBDC) is the digital form of a country’s fiat currency that is also a claim on the central bank. Instead of printing money, the central bank issues electronic coins or account backed by the full faith and credit of the government This is in sharp contrast with Nigerian government’s acceptance of digital currencies in the country following recent ban of crypto asset trading through Nigerian bank accounts by the Central Bank of Nigeria. The financial website reported…

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