The Cuban government will accept and regulate the use of cryptocurrencies for commercial transactions in the country, reports Business Insider.
The country’s central bank will determine the rules for digital assets and decide which payment providers and exchange offices will be licensed for their operations. This will be decided on the basis of Cuba’s “socio-economic interests”.
The decision means that private individuals and businesses will be able to use digital assets in Cuba within the framework of the regulations. However, the Cuban government emphasizes that administrative authorities should avoid this.
Also read: El Salvador first set out to make bitcoin the official currency
– .
