Banco Central de Cuba (BCC), the Central Bank of Cuba, will begin licensing virtual asset service providers (VASPs) that can promote the development of the cryptocurrency market in Cuba.
According to the statement made by the Central Bank of Cuba on April 26, companies that want to provide services related to virtual assets It must first obtain a license from the central bank.
In addition, in the statement made by the Cuban Central Bank, institutions and organizations operating without this license are in accordance with the current banking and finance rules of the country. will be penalized specified. BCC, after the publication of this decision 20 days later, on May 16, 2022 enter into force and licenses will be renewed next year explained.
Institutions that have obtained a virtual asset service provider license do not provide services without the permission of the central bank. It is stated that it cannot start and stop.
In September last year, BCC introduced cryptocurrencies. legal payment method He had issued a resolution that he recognized as With this decision, people living in Cuba can use cryptocurrencies all over the world. able to trade cryptocurrencies.