You can't use Bitcoin in Morocco anymore

You can't use Bitcoin in Morocco anymore

Last week, the Moroccan government banned the use of any currency the isn't listed by the Bank AI-Maghrib. 

Morocco's government fears that using digital currencies could increase illegal activity on the internet. The ban was announced after a Moroccan digital services company said they planned to accept bitcoin.

Bitcoin was increasing in popularity in Morocco until this ban.

Cryptocurrencies like bitcoin had been helping to ease some of Morocco's financial problems like lack of access to banks and cash.

41% of the population relies on cash ( source: World Bank Organisation).

MChain is a bitocin-related start-up in Southern Morocco and the CTO Bellaj Hadr says: "I don't think the government realizes how bitcoin can help this country."

Morocco join a short list of countries where you can get fined or arrested for using bitcoin.

Source: CNBC Crypto