Cuba’s central bank recognises cryptocurrencies

  • Cuba will now recognise and regulate cryptocurrencies, as per Resolution 215 published in the state-run Official Gazette last Thursday.
  • The Resolution says the central bank will create a series of new rules on how cryptocurrencies will be used. One such rule will require related service providers to apply for commercial licenses in order to continue operations.
  • Dr. Mrinalini Tankha, a professor of anthropology at Portland State University, has been doing research on Cuba for 10 years, and says she believes this is a positive sign for Cuba and its economy.
  • “If you’re a software developer, or if you’re an NFT artist, you could actually get paid through cryptocurrency for your labor, and I think that’s where the potential actually is,” said Tankha. “It opens up a whole new economy for Cubans to participate in.”

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