Cuba is working on cryptocurrency payments

Uğur Bayram

Aug 26, 2021

With crypto payments increasing day by day on the island of Cuba, Cuban Government officials have announced that they are planning to introduce new regulations for crypto payments.

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With crypto payments increasing day by day on the island of Cuba, Cuban Government officials have announced that they are planning to introduce new regulations for crypto payments.
It was said that these regulations would be undertaken by the Central Bank. The bank said it will also work on licensing crypto service providers in the country.
The state will oversee all crypto operations that take place and prevent illegal activities.
As it is known, El Salvador was the first country to accept Bitcoin as legal money, and these studies carried out by Cuba raise the question of whether Cuba will follow in El Salvador's footsteps.
Crypto payments have increased in South American countries after former President Donald Trump's embargo on cryptocurrencies.
And with the rise of crypto payments in Cuba day by day, the probability of crypto money becoming legal money is increasing.

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