Cuba’s exploding crypto interest comes amid an absence of regulation
Monetary reforms and a lack of regulation mean crypto is booming in Cuba. Cuba is seeing an influx of cryptocurrency activity amid an apparent absence of related regulation in the country, according to senior executives at local crypto firms.In early November, Cuba recorded a major spike in Bitcoin (BTC)-related Google queries, indicating an increase in crypto activity in the country. Founders of major local crypto exchanges Qbita and Bitremesas told Cointelegraph that their platforms have seen increased activity in recent months.Erich Garcia, the creator of Bitremesas, told Cointelegraph....
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Crypto is now a legal method of payment for commercial transactions in the Island nation. Resolution 215 of 2021 issued by the Banco Central de Cuba (BCC) — the country’s central bank — recognizing cryptocurrencies like Bitcoin (BTC) is now in effect.According to Cuba’s official state news agency Prensa Latina, the order became official on Wednesday.With crypto legally recognized by the BCC, Bitcoin and other cryptocurrencies can now be used for commercial transactions and investments in Cuba.As previously reported by Cointelegraph, the central bank first announced plans to recognize and....
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The cryptocurrency industry is exploding in interest in every sector from DeFi to NFTs and more, but the technology still has a road left ahead before accessibility and education catch up with the innovation offered. In an effort to bridge that gap and make crypto-centric applications like DeFi easily accessible and understood by all, the […]
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