This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press
The Moroccan Capital Market Authority confirmed that the creation of a framework governing crypto-assets in Morocco is motivated above all by a set of main objectives, including compliance with international requirements in this area, adding that the project The law is being developed with the support of the Moroccan Capital Market Authority. World Bank in the form of technical assistance.
The Authority explained in its annual report that the development of the bill on encrypted assets aims to comply with the recommendations of the International Organization of Securities Commissions concerning the supervision of service providers on encrypted assets, in addition recommendations from the Financial Stability Board regarding crypto assets. asset market, including the risks of money laundering and terrorist financing linked to their use.
Furthermore, the Authority stressed that the project also aims to support innovation and support the emergence of the financial technology ecosystem, in addition to aligning the targeted framework with relevant European standards, in particular the law on crypto-asset markets (MiCA), be compatible with European regulatory texts.
The report highlights that the bill was drafted by the National Cryptoassets Working Group, with support from the World Bank in the form of technical assistance.
Regarding the elements that the bill seeks to regulate, the report highlights that it aims to regulate the crypto-asset markets, namely the primary and secondary markets, through the services provided by crypto-asset service providers , in addition to trading platforms and regulated markets. crypto-assets.
The draft also aims to regulate crypto-asset market participants, namely crypto-asset service providers, token issuers, including issuers, bidders and applicants for the listing of crypto-assets. trade on the trading platform.
