Morocco bans cryptocurrency

The Office des changes has reported that the use of cryptocurrencies within the country can lead to sanctions under current law
22 November 2017   1586

Morocco's foreign exchange authority claims that cryptocurrencies transactions within Morocco constitute an "infringement of the exchange regulations" that are punishable by penalties stated in current laws.

The office strongly encourages the public to comply with the rules of the foreign exchange, which stipulate that international financial transactions must be carried out through authorized intermediaries and only with the foreign currencies listed by the Bank Al-Maghrib, the central bank of Morocco.

This is a hidden payment system that is not backed by an organization, the use of virtual currencies entails significant risks for their users.


The Office des changes statement

Last week, MTDS, digital services company, started to introduce bitcoin as a way of payment for its services in Morocco. It is not yet clear how the official statement will affect the firm. It remains to be seem how the statement of the Office des Changes will affect  the company.

However, the Office des Changes along with the central bank of Morocco and the Professional Group of Banks of Morocco (GPBM) – is closely following the evolution of virtual currencies in the country.

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.