Bitcoin News Morocco Just Banned Bitcoin: Here's What That Means.https://bitconnect.co/?ref=chef79 HOW TO MONEY EVE DAY https://bitconnect.co/?ref=chef79bitc.... ...................................................................................................................
While a number of global policymakers have expressed their intent to regulate Bitcoin in some way over the past twelve months, very few global regions have outright banned the virtual currency. Steps taken to stop people buying and/or selling Bitcoin are largely regarded as necessary at this stage and – in a sense – jumping the gun ahead of what could turn out to be global mainstream adoption.
Despite this, however, we have already seen China take this dramatic step this year so far and – as is the latest news – Morocco has now followed suit.
According to reports out of the nation, the Moroccan government has decided to ban Bitcoin outright and – in doing so – has limited entirely the ability to buy or sell the virtual currency in the region.
The announcement came by way of a report issued by Morocco’s Ministry of Finance, titled Mise au point au sujet de l’utilisation des monnaies virtuelles (this translates to "A focus on the use of virtual currencies), and detailed the ban as follows:
The Office des Changes wishes to inform the general public that the transactions via virtual currencies constitute an infringement of the exchange regulations, liable to penalties and fines provided for by (the current) laws in force.
While this isn't an overly surprising development – this is a country that, after all, spends a lot of time and effort limiting the amount of foreign exchange capital that can flow in and out of its border region – it does seem a little hasty from a global integration perspective.
With blockchain technology likely to underpin global development across the next decade, Bitcoin and other virtual currencies will almost certainly need to be exchanged as a method of payment that supports this wave of technological advance.
By declaring virtual currencies illegal, Marco is exempting itself voluntarily from this technological development.
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