Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[AudraMiller]

Four years ago there was a ban that was places by Morocco on cryptocurrency, where their government expressed major concern with how this currency is regulated and used. However, it seems that despite this ban, this country is still within the top 5 countries in Africa that are using cryptocurrencies. In a recent article, it appears that the central bank in Morocco is possibly looking at developing and launching its own digital currency. What are your thoughts on doing this in a country that has banned crypto? This would require revisions to their cryptocurrency laws in my opinion, and a way to try and regulate it in conjunction with their new digital currency for the country as well.

 

[ELSA-ELI]

This is something I would not be surprised of.Morocco has been off the radar but I must confess that this is one of the power countries that should spear head such technologies in Africa.Though it hsd come under scrutiny that its not a wise decision for each country to own a coin.

 

[Wisdom01]

I think they obviously want people to focus on their new digital currency and they would know ban crypto currency , all i hope is that it doesn't happen

 

[BullyMaguire]

Okay i was genuinely shock to know that Morocco was in Africa. But i wasn't surprised that countries will try and make their own Cryptocurrency they can regulate

 

[ELSA-ELI]

But what really could be a driving force behind countries to own its own coin?China has done it and some other countries are following through, America yet again through quality administrative laws is more or less the hub of cryptocurrency under the SEC and other financial bodies.

 

[sagefave]

It seems that governments are banning cryptocurrency in order to create a chance for their own digital currencies. Russian government want to create digital ruble, the Indian government are after the digital rupee and now Morocco.

 

[BullyMaguire]

But what really could be a driving force behind countries to own its own coin?China has done it and some other countries are following through, America yet again through quality administrative laws is more or less the hub of cryptocurrency under the SEC and other financial bodies.

I think it's because they want one which they have the full control over. So if their citizens are interested in Cryptocurrencies they will offer their own i guess

 

[BullyMaguire]

It seems that governments are banning cryptocurrency in order to create a chance for their own digital currencies. Russian government want to create digital ruble, the Indian government are after the digital rupee and now Morocco.

That's what i think too, i wonder how they are going to deal with it when it goes outside their countries though.. will other countries allow them

 

[Niftyicon]

It would be a wonderful idea if the currency could exist along with crypto use in the country but I doubt the government would want that just to avoid or reduce competition.

 

[BullyMaguire]

It would be a wonderful idea if the currency could exist along with crypto use in the country but I doubt the government would want that just to avoid or reduce competition.

Yeah it will be good for everyone but not the governments.. i don't know if they will allow other Cryptocurrency in their countries when they have their own

 

[Niftyicon]

Yeah it will be good for everyone but not the governments.. i don't know if they will allow other Cryptocurrency in their countries when they have their own

Well,if the idea is to ensure the use of the digital currency widely within the country, then, the government may likely prefer to boot out Cryptocurrencies.

 

[Rollerkid]

Four years ago there was a ban that was places by Morocco on cryptocurrency, where their government expressed major concern with how this currency is regulated and used. However, it seems that despite this ban, this country is still within the top 5 countries in Africa that are using cryptocurrencies. In a recent article, it appears that the central bank in Morocco is possibly looking at developing and launching its own digital currency. What are your thoughts on doing this in a country that has banned crypto? This would require revisions to their cryptocurrency laws in my opinion, and a way to try and regulate it in conjunction with their new digital currency for the country as well.

It will be a good news for the crypto currency community if they finally launch their own digital currency and also will have impact on their economy especially if their citizens are willing to be using their digital currency frequently.

 

[achawaskey]

The answer is simple because they have seen the potential that cryptocurrency holds and how there country could make some revenue from it.

 

[BullyMaguire]

Well,if the idea is to ensure the use of the digital currency widely within the country, then, the government may likely prefer to boot out Cryptocurrencies.

Because i think if one country makes their own Cryptocurrency and they allow it to circulate outside and it has a high Volatility... That would be a problem and they will get questioned by other

 

[Niftyicon]

Because i think if one country makes their own Cryptocurrency and they allow it to circulate outside and it has a high Volatility... That would be a problem and they will get questioned by other

Most countries with digital versions f their fiat may have its use limited to the country. I feel it would be useless for outsiders unless there is a way around d that.

 

[ELSA-ELI]

Yrah

I think it's because they want one which they have the full control over. So if their citizens are interested in Cryptocurrencies they will offer their own i guess

Yeah it requires a lot of follow-up so that its understood from all aspects as to what validates a country to also come up with its own cryptcurrency and weather they can manage the technologies that come with it?

 

[a_jerobon]

That is good news for the people of Morrocco. Of course now they will need to review their laws in cryptocurrencies since they had banned them earlier. Then they can now proceed to launch a cryptocurrency that they have full control over.

 

[BullyMaguire]

Most countries with digital versions f their fiat may have its use limited to the country. I feel it would be useless for outsiders unless there is a way around d that.

But i feel like that would be a bit pointless isn't it? Unless it's heavily tied to banks. Sicne there's always a local fiat wallet on every country.. it's almost the same

 

[BullyMaguire]

Yrah

Yeah it requires a lot of follow-up so that its understood from all aspects as to what validates a country to also come up with its own cryptcurrency and weather they can manage the technologies that come with it?

Well i guess it can work like i remember China has made a Cryptocurrency only circulating in a small town or something.. must work like that i guess

 

[Niftyicon]

But i feel like that would be a bit pointless isn't it? Unless it's heavily tied to banks. Sicne there's always a local fiat wallet on every country.. it's almost the same

Yeah! The digitalized fiat cannot even be advocated to promote the cashless policies being preached everywhere because even with the paper fiat, a large percentage of transactions are already carried out through cards and the likes. I also don't see the point.