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Cuba’s Central Bank Suspends US Dollar Deposits Nationwide – Officials Cite Embargo ‘Obstacles’

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The Republic of Cuba is suspending the use of U.S. dollars due to embargo restrictions with U.S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.S. embargo creates for the national bank system.” Cuba Bans USD Deposits, BCC Tells Tourists to ‘Arrive With a Currency Other Than the … Read more

Cuban Central Bank Issues Warning on the Rising Number of Crypto-Related Ponzi Cases

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Cuba has witnessed some exciting times in the last few months as far as nationwide digital currency acceptance, but the road toward this goal is still under construction. The country’s central bank recently issued a warning about the rising number of cryptocurrency-related scam cases across the island. Alleged Crypto Scams Are Mentioned in the Alert … Read more

Cuban President Discusses Adopting Cryptocurrencies for the ‘Convenience’ of the National Economy

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Cuba has been actively discussing the possibility of adopting cryptocurrencies over the last few months during high-political summits. This time, the president of the Caribbean island discussed crypto assets once again during a virtual currencies topic on the summit agenda, talking about the possibility to consider it for future economic plans. Discussions Underway Despite Domestic … Read more

Communist Party of Cuba Suggests Including Cryptocurrencies as an Alternative to Deal With Economic Crisis

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When a country faces a severe economic crisis or living in a long-lasting political turmoil, cryptocurrencies are often discussed as an alternative to deal with the tough times. Although cryptos are not an unfamiliar issue in Cuba, the Communist Party of Cuba (PCC) has been recently showing interest in digital assets to face the economic … Read more

Food and Cash Shortages Push Cubans Toward Permissionless Cryptocurrencies

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The Nation of Cuba is dealing with a national food crisis, as Venezuela has stopped offering aid to the small island nation. Moreover, the coronavirus outbreak has caused a shortage of cash couriers called “mules” and everyday items are becoming scarcer. Amid the crisis, a number of Cubans are resorting to leveraging cryptocurrencies like bitcoin … Read more

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