BTC and Cryptocurrencies are Banned from the Neighborhood of El Salvador, the Land of Bitcoin!

Bitcoin As the popularity and usage of cryptocurrencies continues to increase, countries also BTC and cryptocurrencyThere is good news coming about.

However, some countries also choose to impose bans.

One of these countries is that accepts Bitcoin as legal currency. El Salvador‘‘s neighbor became Honduras.

According to a recent report from Reuters, Honduras It banned cryptocurrency transactions in certain areas.

Honduran National Banking and Securities Commission (CNBS) By curbing cryptocurrencies, it prohibited institutions under its control from trading in digital assets.

This decision of CNBS is the result of the institutions under its control. “maintain, invest, broker or trade in cryptocurrencies, cryptoassets, virtual currencies, tokens or similar virtual assets not issued or authorized by a central bank” It forbids.

CNBS noted that Honduran law currently regulates cryptocurrencies, but the platforms on which they are traded operate in the country.

At this point, CNBS said that since many of these platforms are located in more than one jurisdiction, Honduran law cannot control them and that investors “indulging in fraud, money laundering and terrorist financing activities” He said they were at risk.

Although Honduras does not regulate Bitcoin and cryptocurrencies and has already banned some transactions, the financially autonomous Honduran island of Prospera accepted Bitcoin as legal currency within its borders in 2022.

*This is not investment advice.