BeInCrypto –

The government of Cuba in Havana has announced that it will recognize and regulate cryptocurrencies for payments.

The Central Bank of Cuba will set rules for such currencies and determine how to license crypto service providers, according to a resolution published in the Official Gazette. The resolution states that the Central Bank can authorize the use of cryptocurrencies “for reasons of socio-economic interest.” It also explicitly declared that operations could not involve illegal activities.

Some Cubans are already using them for online purchases, according to a local cryptocurrency expert.

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