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....
Related News
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....
Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding coin minting sector. President Tokaev Calls for Legislative Regulation of Cryptocurrency Mining in Kazakhstan During a recent meeting with the energy minister of Kazakhstan, Magzum Mirzagaliev, President Kassym-Jomart Tokayev criticized his department for allowing a sharp decline in fuel reserves.....
Bitcoin is exploding higher once again after consolidating under $18,000 for a number of days. The leading cryptocurrency just minutes ago passed $18,700 for the first time since the top of the previous bull market in 2017. The coin is up approximately 6% in the past 24 hours, having bounced back from the local lows […]
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 […]
As political demonstrations show the world that Cubans are tired of dictatorship, Bitcoin is providing an option to peacefully protest and opt out of a broken system.