Cuba Will Recognise And Regulate Cryptocurrencies

Cuba will also recognise and regulate cryptocurrencies. It is known that the country has been in crisis for a long time.

After countries such as El Salvador, Venezuela, Paraguay and Argentina, Cuba also gave the green light to cryptocurrencies. According to the decision published in the official newspaper of the country; The central bank will enact some laws on cryptocurrencies and determine how payment services will be carried out and what rules the companies providing this service will be subject to. Cryptocurrencies, which attracted the attention of the whole world in 2021, started to use technology-prone segments in Cuba, especially as the use of US dollars became difficult due to the embargo initiated by the USA during the Donald Trump era. The decision which was published in the Official Gazette of the country, emphasized that the Cuban Central Bank will allow the use of cryptocurrencies due to its socioeconomic interests, but the state will control the transactions. The decision also underlined that illegal activities will not be allowed. Speaking to AP, cryptocurrency expert Erich Garcia said that some part of the population has already used cryptocurrencies for a while, especially for gift cards and online product purchases.