Morocco Prepares to Legalize Crypto by 2025 with 15-30% Capital Gains Tax

Morocco, which has historically taken a cautious approach to cryptocurrency, is now preparing to legalize and regulate the industry. The country, which banned cryptocurrency in 2017, has recently released updates on its regulatory framework, indicating a shift in its stance. The Central Bank of Morocco, Bank Al-Maghrib, and the Moroccan Tax Administration (DGI) are set to oversee the taxation and regulation of crypto activities, with implementation expected by 2025.

The proposed tax regime includes a capital gains tax of 15-30%, a progressive income tax ranging from 10% to 38%, and a corporate tax for businesses involved in crypto activities. However, specific guidelines for mining, airdrops, staking, decentralized finance (DeFi), and non-fungible tokens (NFTs) are yet to be provided.

In February 2025, Moroccan authorities began investigating cryptocurrency-enabled property purchases, as users were found utilizing crypto to bypass regulations for foreign real estate transactions. This investigation revealed the use of significant amounts of Bitcoin, Ethereum, Tether, Litecoin, and Ripple.

In November 2024, the governor of the central bank, Abdellatif Jouahri, announced that a draft on cryptocurrency is undergoing the adoption process in Morocco. He also revealed that the country is preparing to regulate central bank digital currency (CBDC) to achieve certain central public policy objectives, particularly in financial terms.

Morocco's initial ban on cryptocurrency in 2017 was driven by concerns over monetary sovereignty, the decentralization of crypto threatening the central bank’s control, and the potential for illicit activities such as money laundering and terrorism financing. The government also cited a lack of consumer protection in an unregulated market as a reason for the ban.

Despite the ban, approximately 6 million Moroccans are estimated to own or use cryptocurrency in 2024, representing 16% of the total population. With the new legal framework, Morocco’s crypto market is projected to reach $278.7 million by 2025 and $292.4 million by 2026, with an anticipated annual growth rate of 4.92%.

As the interest in crypto continues to grow among Moroccans, the government is compelled to regulate the industry to prevent further illegal activities. With a clear taxation regime and legal regulatory framework, Morocco aims to position itself as a potential fintech hub. The government is set to regulate Bitcoin and other cryptocurrencies, CBDC, and develop blockchain technology to foster economic growth.