Cuba to recognise and regulate crypto-currencies
Sakshi Education
On August 26, 2021 Government of Cuba announced to recognize and regulate crypto-currencies for payment in the Island nation. This decision was taken following the popularity of crypto-currencies increased among a technologically savvy group in Cuba as it became harder to use dollars.
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As per officials, Central Bank will set rules for such currencies. It will also determine how to license the providers of related services in Cuba. Crypto-currencies are used for long-distance transactions and are supposedly anonymous. Thus, they are often popular among people who are attempting to evade government regulations.
Published date : 28 Aug 2021 02:43PM