Morocco Bans Bitcoin Payments

Morocco's currency regulator has announced a ban on transactions in bitcoin and other virtual currencies, in a country where foreign exchange flows are tightly controlled.

"Transactions via virtual currencies constitute a breach of regulations, punishable by penalties and fines," the Offices des Changes said in a statement on its website.

The announcement came a week after Moroccan digital services company MTDS said it would accept payment in bitcoin.

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