March 29, 2024

Kuba is ready for the adoption and regulation of cryptocurrencies

Cuba aims to become the first country in North America to officially recognize and regulate cryptocurrencies. According to recentThe Central Bank will establish the rules for the use of digital assets in accordance with the information published in the Official Gazette.

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In addition, it will work over the face ofsuppliers of cryptocurrency services operating on the day. The strict rules of the embargo, imposed by the former US President Donald Trump, made the Cubans difficult to use the US dollar.

In this way, the technical group at Kube is exploring digital assets that can help overcome these financial barriers.

As the crypto asset is fullDecentralized, specific organizations that follow the flow of money do not exist. In view of the fact that the United States imposes restrictions on the sending of transfer payments to Cuba, the cryptocurrencies of the country are an excellent alternative for its residents.

In the post of the "Official Vendor"It is mentioned that the Central Bank has the right to authorize the use of digital assets "for reasons of social and economic nature." One state will seek to provide control over operations and will ensure that operations before the transfer of the cryptocurrency are not connected with no purpose.

The Cuban expert on the cryptocurrency Erix Gapsia noticed that the coven residents are already actively using digital assets for purchasing on the Internet through the supplied cards.

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