According To The Latin News Agency, Cuba’s Official News Agency, The Central Bank Of Cuba (Bcc) Issued Resolution No. 215 Of 2021-the Central Bank’s Recognition Of Cryptocurrencies Such As Bitcoin Officially Took Effect On Wednesday.
With The Legitimacy Of Cryptocurrencies Recognized By The Central Bank Of Cuba, Bitcoin And Other Cryptocurrencies Can Be Used For Commercial Transactions And Investments In Cuba. The Central Bank Of Cuba First Announced Plans To Recognize And Regulate Cryptocurrencies In Late August.
Resolution 215 Of 2021 Contains Licensing Requirements For Cryptocurrency Exchanges And Other Virtual Asset Service Providers Operating In Cuba.
Cuba Legalized Cryptocurrencies And Assets At The Same Time, But Also Warned Of The Risks Associated With Cryptocurrencies At The Same Time.
Under Pressure From The United States To Impose An Embargo, By Recognizing Cryptocurrencies, Cubans Can No Longer Afford Huge Handling Fees For Foreign Exchange Payments.
Cuba Also Does Not Rule Out Gradually Moving In The Direction Of El Salvador, Further Opening Up Bitcoin, So That Cubans In Economic Difficulties Have The Possibility Of Achieving Financial Freedom.
