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estimates from triple a, a singaporean cryptocurrency provider and aggregator, state that 0.9 million people, or roughly 2.4% of morocco’s total population, currently own cryptocurrency.
Which places the kingdom as the number one country in North Africa and among the top 50 holders of percentage of cryptocurrency population, just ahead of Portugal.
data from useful tulips — a platform that tracks peer-to-peer btc trading across the globe — confirms the trend. The western kingdom, as is commonly known locally, was the runaway north african leader of btc trade over the past year, in weighing the whole region of the middle east and north africa, only saudi arabia played a role.
Unfortunately for crypto lovers, there has been no change in crypto laws in recent years. According to the moroccan exchange office, it will not support a "hidden payment system that is not supported by any financial institution" when the law was enacted in 2017, the ban did not impede adoption and as the data show, moroccan crypto amateurs continue to get around the decision.
Near there, the Egyptian pound wins over the Moroccan dirham for btc crafts. on the 30 day period, usefultulips shows that egypt is $20,000 short of catching morocco. it remains illegal to trade btc and crypto in egypt, but even if a tiny percentage of its 102 million population and $360 billion gdp engage in the “illicit” activity, it will move the needle.
to bolster morocco’s orange-tinted future, harmattan energy is set to build one of africa's largest wind farms. To strengthen Morocco's orange future, Harmattan Energy is in the process of building one of Africa's largest wind farms.
related: africa’s crypto market has grown by more than 1,200% since 2020: chainalysis
nonetheless, as cointelegraph reported on the project’s call to tender in 2018, selling at least 20% of its electricity output back to the moroccan government could be a workable solution. Related: the african cryptography market has increased by over 1200% since 2020: chainalysisnonetheless, as cointelegraph reported on the project's call for tenders in 2018, the sale of at least 20% of its electricity production to the moroccan government could be an achievable solution.
elsewhere, in april 2020, BINANCE added support for crypto purchases using the moroccan dirham via a third-party platform, simplex. Elsewhere, in April 2020, binance added support for crypto purchases using Moroccan dirham through a third-party platform, simplex. it’s not quite as easy to buy btc on binance as it is in the nearby uae, which has a direct fiat on-ramp, but it's a promising start.
It is not as easy to purchase BTCs on binance as in the nearby United Arab Emirates, which has a direct fiat on the ramp. That's a promising beginning.
