Moroccans are hooked on crypto. A whopping 6 million people – about 16% of the population – owned cryptocurrencies in 2024, according to French broker HelloSafe. That’s a 60% surge in just five years, with 2.5 million new holders jumping on board since 2019.
More people in Morocco are looking for smart ways to invest their money through crypto buys and online trading.
But crypto is banned in Morocco. The government outlawed it in 2017, for fears it would offer a fertile ground for drug lords and criminals to launder their ill-gotten wealth. Yet, change may be around the corner. Bank Al-Maghrib boss Abdellatif Jouahri revealed last November that a draft law is in the works to –at last– regulate the cryptocurrency industry.
Across Africa, crypto is exploding. Nigeria saw a 68% surge, reaching 105 million holders last year. Egypt’s numbers sky-rocketed 138% to 21 million, while Kenya and South Africa climbed to 11 million and 13.9 million users – a 90% and 38% increase.
Globally, India reigns supreme with a staggering 314 million crypto fans, while China follows with 128.5 million users.
