Cuba issues licenses to cryptocurrency providers

On Tuesday, Cuba's central bank announced it would issue licenses to service providers.virtual assets. Applications will be considered within 90 working days, subject to the provision of the necessary documents.

The resolution, published in the Official Gazette of Cuba, states that the license is intended for both individuals and legal entities from Cuba and other states.

Approved licenses will be valid for one year and may be renewed for a second year "given the experimental and novel nature of this activity."

Providers will be allowed to work with virtualassets approved by the central bank. It is specified that virtual assets "do not include digital representations of fiat currencies, securities and other financial assets widely used in traditional banking and financial systems, which are subject to other provisions of the Central Bank of Cuba."

The current resolution does not specify whether the Cuban government will levy taxes on virtual asset transactions.

At the same time, it is known that suppliers will not be able tocease operations without prior permission from the Central Bank and will be required to keep records of their operations in accordance with the standards issued by the Ministry of Finance and Prices.

Licensees who violate the ordinance or operate without a license will be liable under Decree 363.

According to the bank, the decision will come into force 20 days after its publication.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest crypto exchange in the world is Binance. The platform supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	AAX	https://aax.com	7.2
4	Exmo	https://exmo.me	6.9
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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