The Cuban Central Bank passed a resolution on cryptocurrencies, recognizing cryptocurrencies as legal commercial transactions in the country

According to Cuba's official news agency Latinoamerica, Cryptocurrency Resolution No. 215 of 2021 issued by the Central Bank of Cuba (BCC) came into effect in Cuba on Wednesday. Cryptocurrency has become a legal method of commercial transactions in Cuba. The resolution also stipulates the licensing of cryptocurrency service providers to conduct financial-related business in/outside Cuba.

In addition, the resolution points out that the management of cryptocurrencies involves risks to monetary policy and financial stability, as well as the risk of being used to finance criminal activities.