Morocco’s foreign exchange authority has launched formal enforcement proceedings against multiple individuals holding crypto assets abroad, ending years of regulatory silence with a direct strike on digital currency use.
- Morocco’s foreign exchange authority has launched formal enforcement proceedings against multiple individuals holding crypto assets abroad, ending years of regulatory...
- The Office des Changes sent written notifications to the identified person, a copy of which Le360 obtained, stating that it...
- It adds that these assets generated “sales to Moroccan residents” during the six-month window.
- Each notification requires recipients to justify the source of funds and prove compliance within a set deadline.
Keep reading for the full breakdown on Africa — everything you need to know is covered below.
The Office des Changes sent written notifications to the identified person, a copy of which Le360 obtained, stating that it had detected “the constitution of assets abroad in the form of crypto assets.”
The transactions occurred between March and August 2025, with sales made to Moroccan residents.
Who is being targeted and why
The enforcement move applies to individuals whose crypto asset holdings abroad generated receipts from local buyers. The Office des Changes, which oversees Morocco’s foreign exchange regime, accused them of violating currency transfer rules.
“You have been identified as holding assets abroad in the form of crypto assets,” the notification reads.
It adds that these assets generated “sales to Moroccan residents” during the six-month window. The authority did not disclose the number of targets or the value involved.
Morocco, crypto asset holders now face potential fines or legal action under the 2019 foreign exchange law, which bans unauthorised cross-border digital currency transactions.
Though crypto trading has never been formally legalised, this is the first enforcement action against individual holders.
The Office des Changes used cross-border transaction monitoring to trace sales from foreign wallets to Moroccan bank accounts. Each notification requires recipients to justify the source of funds and prove compliance within a set deadline.
“We have identified the constitution of assets abroad,” the letter repeats, emphasising that failure to respond may lead to asset freezes or penalties.
Across Africa, regulators have taken varied stances. Nigeria imposes trading restrictions, while South Africa licenses exchanges. Morocco’s approach now adds enforcement against individual holders to the regional mix.
What happens next for Moroccan crypto asset holders
The Office des Changes has not announced a public list of sanctioned individuals. However, legal sources told Le360 that banks have been asked to flag transfers linked to foreign crypto exchanges.
For any Moroccan crypto asset holder, the notifications serve as a direct warning that undeclared digital holdings with local counterparties are traceable. The authority is expected to widen its scrutiny to cover more transaction periods and platforms.
Morocco’s central bank and the Office des Changes have repeatedly warned about the risks of crypto assets since 2017. This enforcement action, covering March to August 2025, turns those warnings into legal consequences for the first time.