Morocco's three financial authorities have put their prohibition in writing, jointly. In a press release published by the Moroccan Capital Market Authority (AMMC) under the title 'Les autorites financieres appellent au strict respect de la reglementation liee a l'utilisation des monnaies virtuelles', Bank Al-Maghrib, the AMMC and the Office des Changes state that they 'interdisent l'usage de tels procedes' — they prohibit the use of virtual currencies such as Bitcoin — and describe the activity as unregulated, highly volatile, offering no consumer protection and open to money laundering and the financing of criminal activity.
The contract itself does not change by geography: a TSM perpetual settles in USDC everywhere.
The legal status above rules out a trading route for TSMC exposure from Morocco.
20% on net capital gains from cryptocurrency sales, taxed as securities income under Morocco's securities taxation regime.
Trading TSM from Morocco: banned.
The rule TSMC traders in Morocco face: Morocco's Bank Al-Maghrib, the AMMC and the Office des Changes jointly declared virtual currencies such as Bitcoin prohibited, citing exchange-control and capital-markets regulation; no licensing framework for virtual-asset service providers exists.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
