{"id":12230,"date":"2026-07-28T11:30:13","date_gmt":"2026-07-28T09:30:13","guid":{"rendered":"https:\/\/www.lexisma.info\/?p=12230"},"modified":"2026-07-28T11:30:18","modified_gmt":"2026-07-28T09:30:18","slug":"crypto-actifs-au-maroc-lavant-projet-de-loi-n-42-25-a-lepreuve-des-exigences-du-gafi","status":"publish","type":"post","link":"https:\/\/www.lexisma.info\/?p=12230","title":{"rendered":"Crypto-actifs au Maroc : L\u2019avant-projet de loi n\u00b0 42.25 \u00e0 l\u2019\u00e9preuve des exigences du GAFI"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>Alors que le GAFI durcit le ton en juillet 2026 sur l\u2019effectivit\u00e9 de la Recommandation 15, le Maroc amorce un virage historique. L\u2019avant-projet de&nbsp;loi n\u00b0 42.25, qui met fin \u00e0 la prohibition de 2017, dessine une architecture de double supervision BAM-AMMC. Face \u00e0 la menace des stablecoins criminels et des fraudes par deepfakes, ce texte novateur impose un monopole bancaire et une tra\u00e7abilit\u00e9 d\u00e9cennale in\u00e9dite. Analyse d&#8217;une transition sous haute surveillance.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Le 16 juillet 2026, le Groupe d\u2019action financi\u00e8re (GAFI) a publi\u00e9 sa septi\u00e8me mise \u00e0 jour cibl\u00e9e sur la mise en \u0153uvre de sa Recommandation 15 relative aux actifs virtuels. Ce rapport souligne un foss\u00e9 persistant entre la conformit\u00e9 technique et l&#8217;efficacit\u00e9 op\u00e9rationnelle des dispositifs nationaux, sur fond de sophistication croissante de la criminalit\u00e9 financi\u00e8re. Pour le Maroc, cette alerte internationale co\u00efncide avec une phase charni\u00e8re : l\u2019\u00e9laboration de l\u2019avant-projet de&nbsp;loi n\u00b0 42.25. Ce texte ambitionne de structurer un march\u00e9 national s\u00e9curis\u00e9 tout en s\u2019alignant sur les standards internationaux de lutte contre le blanchiment de capitaux et le financement du terrorisme (LBC-FT).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">L\u2019avant-projet de&nbsp;loi n\u00b0 42.25, publi\u00e9 par le Secr\u00e9tariat G\u00e9n\u00e9ral du Gouvernement (SGG), marque un tournant historique en mettant fin \u00e0 la prohibition de principe d\u00e9cr\u00e9t\u00e9e en 2017. Inspir\u00e9 du r\u00e8glement europ\u00e9en&nbsp;<em>Markets in Crypto-Assets<\/em>&nbsp;(MiCA), le l\u00e9gislateur marocain opte pour un mod\u00e8le de r\u00e9gulation stricte fond\u00e9 sur une double tutelle :<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bank Al-Maghrib (BAM)<\/strong>\u00a0assure la surveillance macro-prudentielle, la stabilit\u00e9 financi\u00e8re et le contr\u00f4le des services de paiement associ\u00e9s aux crypto-actifs.<\/li>\n\n\n\n<li><strong>L&#8217;Autorit\u00e9 Marocaine du March\u00e9 des Capitaux (AMMC)<\/strong>\u00a0supervise les offres au public de jetons (ICOs) et prot\u00e8ge les \u00e9pargnants.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Cette approche structur\u00e9e vise \u00e0 assainir un canal historiquement opaque pour le transformer en un \u00e9cosyst\u00e8me financier transparent et auditable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">L\u2019un des apports majeurs de la mise \u00e0 jour du GAFI de juillet 2026 concerne l\u2019usage pr\u00e9dominant des&nbsp;<em>stablecoins<\/em>&nbsp;par les organisations criminelles, qui d\u00e9veloppent d\u00e9sormais des jetons propri\u00e9taires configur\u00e9s pour contourner les protocoles de gel des avoirs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pour neutraliser cette menace, le projet de loi marocain impose un&nbsp;<strong>monopole bancaire sur l\u2019\u00e9mission de stablecoins<\/strong>. Seuls les \u00e9tablissements de cr\u00e9dit agr\u00e9\u00e9s par BAM pourront \u00e9mettre des jetons index\u00e9s sur des monnaies fiduciaires (notamment le Dirham). Cette restriction technique majeure garantit que les contrats intelligents (<em>smart contracts<\/em>) int\u00e8grent nativement des fonctions de gel imm\u00e9diat, indispensables \u00e0 l&#8217;ex\u00e9cution des sanctions de la Commission Nationale charg\u00e9e de l&#8217;application des Sanctions pr\u00e9vues par les r\u00e9solutions du Conseil de S\u00e9curit\u00e9 de l&#8217;ONU (CNASNU).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">De plus, le texte va au-del\u00e0 des standards classiques en imposant aux Prestataires de Services sur Crypto-Actifs (PSCA) une&nbsp;<strong>obligation de conservation des donn\u00e9es de transaction de 10 ans<\/strong>&nbsp;(contre 5 ans habituellement), facilitant ainsi les enqu\u00eates financi\u00e8res complexes de l&#8217;Autorit\u00e9 Nationale du Renseignement Financier (ANRF).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alors que le GAFI pointe du doigt l&#8217;utilisation croissante de l&#8217;intelligence artificielle g\u00e9n\u00e9rative pour fausser les processus d\u2019identification (KYC) via des identit\u00e9s synth\u00e9tiques, le Maroc impose des crit\u00e8res d&#8217;agr\u00e9ment rigoureux aux PSCA. Ces derniers devront prouver la robustesse de leurs dispositifs technologiques avant d&#8217;exercer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Enfin, l&#8217;exclusion de la finance d\u00e9centralis\u00e9e (DeFi) non interm\u00e9di\u00e9e du champ de la&nbsp;loi n\u00b0 42.25&nbsp;cr\u00e9e un d\u00e9fi de taille. Pour pallier cet angle mort, les autorit\u00e9s devront s\u2019\u00e9quiper d\u2019outils d&#8217;analyse de la blockchain afin de surveiller les passerelles d&#8217;entr\u00e9e et de sortie (<em>on\/off-ramps<\/em>) du syst\u00e8me financier national.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En cette ann\u00e9e 2026, le Royaume traverse une phase transitoire cruciale. En attendant l\u2019adoption d\u00e9finitive de la loi, l&#8217;Office des Changes maintient des contr\u00f4les stricts sur les avoirs non d\u00e9clar\u00e9s \u00e0 l&#8217;\u00e9tranger. En parall\u00e8le, Bank Al-Maghrib acc\u00e9l\u00e8re ses recherches sur une Monnaie Num\u00e9rique de Banque Centrale (MNBC) pour proposer une alternative souveraine et s\u00e9curis\u00e9e aux actifs virtuels priv\u00e9s. En combinant rigueur r\u00e9pressive et ouverture technologique, le Maroc trace une voie \u00e9quilibr\u00e9e pour s\u00e9curiser son int\u00e9grit\u00e9 financi\u00e8re.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Source<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Consulter l&#8217;article&nbsp;<a target=\"_blank\" href=\"https:\/\/www.fatf-gafi.org\/en\/news\/targeted-updated-va-vasps-2026.html\" rel=\"noreferrer noopener\">ici<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Pas encore utilisateur Lexis\u00aeMA&nbsp;? &nbsp;R\u00e9servez imm\u00e9diatement votre d\u00e9monstration sur <a href=\"https:\/\/info.lexis.ae\/maroc-26-website-lexis-ma-organique-demande-de-d%C3%A9mo\/\" target=\"_blank\" rel=\"noreferrer noopener\">Demande de d\u00e9mo LexisMA<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Pour d\u00e9couvrir davantage d\u2019actualit\u00e9s et d\u2019autres contenus juridiques disponibles, rendez-vous sur <a href=\"http:\/\/www.lexisma.com\/\">LexisMA.com<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alors que le GAFI durcit le ton en juillet 2026 sur l\u2019effectivit\u00e9 de la Recommandation 15, le Maroc amorce un virage historique. L\u2019avant-projet de&nbsp;loi n\u00b0 42.25, qui met fin \u00e0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[49],"tags":[],"class_list":["post-12230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crypto-actifs au Maroc : L\u2019avant-projet de loi n\u00b0 42.25 \u00e0 l\u2019\u00e9preuve des exigences du GAFI - LexisNexis Maroc<\/title>\n<meta name=\"description\" content=\"Alors que le GAFI durcit le ton en juillet 2026 sur l\u2019effectivit\u00e9 de la Recommandation 15, le Maroc amorce un virage historique. L\u2019avant-projet de\u00a0loi n\u00b0 42.25, qui met fin \u00e0 la prohibition de 2017, dessine une architecture de double supervision BAM-AMMC. Face \u00e0 la menace des stablecoins criminels et des fraudes par deepfakes, ce texte novateur impose un monopole bancaire et une tra\u00e7abilit\u00e9 d\u00e9cennale in\u00e9dite. Analyse d&#039;une transition sous haute surveillance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lexisma.info\/?p=12230\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto-actifs au Maroc : L\u2019avant-projet de loi n\u00b0 42.25 \u00e0 l\u2019\u00e9preuve des exigences du GAFI - LexisNexis Maroc\" \/>\n<meta property=\"og:description\" content=\"Alors que le GAFI durcit le ton en juillet 2026 sur l\u2019effectivit\u00e9 de la Recommandation 15, le Maroc amorce un virage historique. L\u2019avant-projet de\u00a0loi n\u00b0 42.25, qui met fin \u00e0 la prohibition de 2017, dessine une architecture de double supervision BAM-AMMC. Face \u00e0 la menace des stablecoins criminels et des fraudes par deepfakes, ce texte novateur impose un monopole bancaire et une tra\u00e7abilit\u00e9 d\u00e9cennale in\u00e9dite. 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L\u2019avant-projet de\u00a0loi n\u00b0 42.25, qui met fin \u00e0 la prohibition de 2017, dessine une architecture de double supervision BAM-AMMC. Face \u00e0 la menace des stablecoins criminels et des fraudes par deepfakes, ce texte novateur impose un monopole bancaire et une tra\u00e7abilit\u00e9 d\u00e9cennale in\u00e9dite. 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L\u2019avant-projet de\u00a0loi n\u00b0 42.25, qui met fin \u00e0 la prohibition de 2017, dessine une architecture de double supervision BAM-AMMC. Face \u00e0 la menace des stablecoins criminels et des fraudes par deepfakes, ce texte novateur impose un monopole bancaire et une tra\u00e7abilit\u00e9 d\u00e9cennale in\u00e9dite. Analyse d'une transition sous haute surveillance.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lexisma.info\/?p=12230","og_locale":"en_US","og_type":"article","og_title":"Crypto-actifs au Maroc : L\u2019avant-projet de loi n\u00b0 42.25 \u00e0 l\u2019\u00e9preuve des exigences du GAFI - LexisNexis Maroc","og_description":"Alors que le GAFI durcit le ton en juillet 2026 sur l\u2019effectivit\u00e9 de la Recommandation 15, le Maroc amorce un virage historique. 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