Penalties for Crypto Trading in Morocco: Fines, Enforcement, and What’s Changing in 2026

When you think about trading Bitcoin or Ethereum, you probably imagine a global market where rules vary by country. But in Morocco, the rules aren’t just different-they’re strict, enforced, and changing fast. As of 2026, the penalties for crypto trading in Morocco are still active, even as the government prepares to legalize and regulate digital assets. This isn’t a story of outright bans anymore. It’s a story of enforcement, fines, and a slow but clear shift from prohibition to control.

What’s Illegal Right Now?

In November 2017, Morocco’s Ministry of Economy and Finance declared all cryptocurrency transactions illegal under the country’s foreign exchange laws. That meant no buying, selling, trading, or using Bitcoin, Ethereum, or any other crypto as payment. It wasn’t just discouraged-it was banned. The reasoning was simple: Morocco tightly controls its currency, the Moroccan Dirham (MAD), and wants to prevent capital flight and money laundering. Crypto, with its anonymity and borderless nature, was seen as a threat to that control.

Even today, if you’re a Moroccan citizen using crypto to buy property, send money abroad, or pay for services, you’re breaking the law. Authorities have been actively targeting these activities. In February 2025, they launched investigations into people using Bitcoin and Tether to purchase real estate, bypassing official currency controls. That’s not a rumor-it’s documented enforcement.

How Much Can You Get Fined?

The penalties aren’t vague. They’re written into law. If you’re caught trading crypto without authorization, you’re looking at:

• Individuals: Fines between MAD 20,000 and MAD 100,000 (roughly $2,000 to $10,000 USD)
• Businesses: Fines up to MAD 500,000 (about $50,000 USD)

These aren’t warnings. These are court-issued penalties. Repeat offenders can face criminal charges under Morocco’s financial laws. That means more than just money-it could mean court appearances, legal fees, and even possible jail time for serious cases.

The enforcement doesn’t just hit individuals. It goes after platforms. Any website, app, or service operating as a crypto exchange without Bank Al-Maghrib’s approval is illegal. If you run a peer-to-peer trading group, even if you’re not charging fees, you could still be seen as facilitating unauthorized activity. The government doesn’t care if you’re just helping friends-it cares if you’re moving value outside their system.

Why Are People Still Trading?

Despite the risks, crypto use in Morocco is growing. According to U.S. State Department reports, Bitcoin trading in Morocco is among the highest in North Africa. Why? Because the system is broken. Many Moroccans can’t access international banking easily. Remittances are expensive. The Dirham isn’t freely convertible. Crypto fills that gap.

The market size? Projected to hit $278.7 million by 2025 and $292.4 million by 2026. That’s real money. Real people. Real demand. And the government knows it. You can’t ban something this big and expect it to disappear. That’s why the rules are changing.

The Big Shift: What’s Coming in 2025-2026

In November 2024, Abdellatif Jouahri, the governor of Bank Al-Maghrib, announced a draft law to legalize and regulate cryptocurrency. This wasn’t a whisper-it was a policy earthquake. The goal? Stop punishing users and start taxing them.

Under the new framework, expected to become law in 2025:

• All crypto exchanges must get licensed by Bank Al-Maghrib
• Platforms must follow strict Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) rules
• Capital gains from crypto trading will be taxed between 15% and 30%
• Individual income from crypto will be taxed at progressive rates (10% to 38%)
• Corporate crypto income will be taxed between 20% and 31%

This isn’t about banning anymore. It’s about control. The government wants to know who’s trading, how much they’re making, and how to collect taxes on it. They’re not trying to stop crypto-they’re trying to own it.

What Happens If You Don’t Pay Taxes?

Right now, there’s no official crypto tax penalty outlined yet. But that doesn’t mean you’re safe. Morocco already has strong tax evasion laws. If you earn money from crypto and don’t report it, you’ll be treated like any other tax evader. That means:

• Back taxes with interest
• Fines up to 50% of the unpaid amount
• Criminal investigation if the amount is large or repeated

The Moroccan Tax Administration (DGI) and Bank Al-Maghrib are already working together to build tracking systems. They’re not waiting for the law to pass-they’re preparing for it. So if you’ve been trading crypto and haven’t reported it, you’re already at risk.

What About Other Crypto Activities?

The new rules don’t just cover trading. They cover everything:

• Using crypto to pay for goods or services? Illegal until licensed platforms exist. Businesses that accept crypto for payments are violating foreign exchange rules.
• Running a crypto mining operation? Not explicitly banned, but if you sell the mined coins, you’re trading-so you’re subject to the same penalties.
• Investing in ICOs or tokenized assets? The Moroccan Capital Market Authority (AMMC) requires approval for any token sale. Unapproved ICOs are illegal and can lead to criminal charges.

Even if you think you’re just “hodling,” if you ever sell or use your crypto in a way that moves value out of the official system, you’re in the government’s crosshairs.

What’s Next? The CBDC and the Future

Morocco isn’t just regulating crypto-it’s building its own digital currency. Bank Al-Maghrib has been testing a Central Bank Digital Currency (CBDC) since 2024, with full pilot testing scheduled for 2026-2027. This isn’t a coincidence. The government knows crypto isn’t going away. So they’re preparing to replace it with something they control.

When the CBDC launches, it’ll be the only legal digital currency in Morocco. Private crypto will still exist-but it’ll be pushed to the fringes. The message is clear: If you want to use digital money, use ours. Or don’t use it at all.

What Should You Do Right Now?

If you’re a Moroccan citizen trading crypto:

• Stop using unlicensed platforms. They’re not safe.
• Keep records of every transaction-buy, sell, trade, transfer.
• Start preparing for taxes. Even if the law isn’t final, the IRS-style audits are coming.
• Don’t use crypto to buy property, send money abroad, or pay businesses. That’s the highest-risk activity.

If you’re a business owner:

• Don’t accept crypto payments. You’re risking fines up to MAD 500,000.
• Watch for official announcements from Bank Al-Maghrib. Licensing will open soon.
• Prepare your accounting systems for crypto reporting. It’s coming.

The era of total prohibition is ending. But the era of punishment hasn’t gone away-it’s just changing shape. The fines are still real. The risks are still high. And now, there’s a tax bill waiting.