Law No. 25-10: Crypto Regulations in Morocco and What They Mean for You

When you hear Law No. 25-10, Morocco’s 2021 legal framework that bans cryptocurrency transactions while permitting tokenized real-world assets. Also known as Morocco’s Crypto Ban Law, it’s not just a rule—it’s a full stop on using Bitcoin, Ethereum, or any coin as payment or exchange within the country. This isn’t about slowing down tech. It’s about control. The Moroccan government didn’t want unregulated digital money slipping past its financial oversight, so it drew a hard line: no buying, selling, or trading crypto on local platforms. But here’s the twist—it didn’t ban everything. Tokenized assets like property or bonds turned into digital tokens? Those are still allowed. That’s not a loophole. It’s a strategy.

Law No. 25-10 ties directly into how Morocco treats VASP licensing, the requirement for crypto businesses to register with authorities to operate legally.Virtual Asset Service Provider—but here’s the catch: there’s no legal way to get one in Morocco because the law doesn’t even recognize crypto exchanges as valid businesses. So if you’re trying to launch a crypto platform there, you’re out of luck. This is why platforms like BUX or BingX don’t operate in Morocco—they can’t. And why Moroccan users who try to use foreign exchanges risk violating the law. It’s not just about fines. It’s about account freezes, bank restrictions, and even criminal liability if you’re seen as facilitating crypto use.

But people still find ways. Some use P2P platforms. Others trade through offshore wallets. And a growing number are turning to tokenized real-world assets—like gold or real estate on blockchain—that fall outside Law No. 25-10’s scope. That’s why you’ll see posts here about RWA tokenization, the process of turning physical assets like bonds, real estate, or commodities into digital tokens on a blockchain.Real-World Asset tokenization—it’s the legal gray zone where Moroccan investors are quietly moving money. Meanwhile, countries like Nigeria and Australia are building clear crypto rules. Morocco chose to shut the door. But the door isn’t locked from the inside. People are still figuring out how to work around it.

What you’ll find below isn’t a list of crypto coins you can buy in Morocco. It’s a collection of real-world stories about what happens when regulation clashes with technology. You’ll read about dead exchanges that vanished under pressure, scams targeting people who don’t know the law, and how tokenized assets are becoming the quiet alternative to banned crypto. These aren’t just articles. They’re warning signs, workarounds, and lessons from the edge of a financial border.