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Morocco’s crypto boom: 6 million citizens embrace digital currencies

The allure of cryptocurrency is spreading rapidly in Morocco, with 6 million individuals—approximately 16% of the population—owning digital assets as of 2024, according to data from French broker HelloSafe. This marks a staggering 60% increase over the past five years, with 2.5 million new......

Moroccan currency shows slight movement against major currencies

The Moroccan dirham experienced a minor depreciation of 0.2% against both the Euro and US dollar during the period of January 30 to February 5, according to Bank Al-Maghrib (BAM). This modest decline follows a period of exchange rate stability in the previous week. The central bank's weekly bulletin......

Morocco's Growing Role in the Cryptocurrency Market in the MENA Region

Morocco has been steadily increasing its presence in the cryptocurrency market within the Middle East and North Africa (MENA) region. According to a report by a leading blockchain data analytics company, Morocco is ranked 27th globally in terms of cryptocurrency adoption. This impressive ranking highlights......

Currency market performance: Dirham appreciates against the dollar

From January 16 to January 22, 2025, the dirham appreciated by 0.6% against the US dollar and depreciated by 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, no foreign exchange auction operations were carried out, as highlighted in BAM's weekly bulletin. As of January......

Appreciation of the Dirham and Market Trends (January 02-08, 2025)

Between January 02 and 08, 2025, the Moroccan dirham showed a positive trend, appreciating by 1.4% against the euro and 0.6% against the US dollar, according to Bank Al-Maghrib (BAM). During this period, no foreign exchange operations were conducted, as highlighted in BAM's weekly report. As of......

Musk Urges Auction for OpenAI Stake Amid Nonprofit Restructuring

Elon Musk’s attorney, Marc Toberoff, has urged the attorneys general of California and Delaware to advocate for OpenAI to auction a significant portion of its stake. This step, proposed as part of OpenAI's corporate restructuring, aims to establish a fair market value for its charitable assets,......

Morocco's Tax Amnesty Drive Yields USD 22 Million, Unveils Hidden Assets

Morocco's recent tax amnesty initiative has successfully concluded, generating MAD 231.7 million (USD 22 million) in additional tax revenue through its Voluntary Asset Disclosure Program. The program, which ended on December 31, 2024, was designed to encourage Moroccans to declare assets and liquidity......

Morocco's Record-Breaking Tax Amnesty Draws $10 Billion in Undeclared Assets

Morocco's latest tax amnesty program has concluded with exceptional results, attracting declarations of MAD 100 billion ($10 billion) in previously undeclared assets. This historic achievement marks a twentyfold increase compared to the 2020 amnesty results, significantly surpassing the government's......

Morocco's Shift from Cryptocurrency Ban to Regulation

In 2017, Morocco implemented a ban on cryptocurrencies, a measure that did not prevent underground trading within the country. However, the national financial regulators have now acknowledged the necessity of transitioning from prohibition to regulation. This shift has been supported by major economic......