Financial authorities of Cuba announced that they would accept virtual currencies as a means of payment in the island country. Its central bank will also make a regulatory framework for digital assets. Right now, it is drafting rules and ideas to control financial transfers involved in the commercial segment. They will also issue licenses for platforms and businesses involved in the industry of crypto coins.
Because BTC and altcoins are digital and are not tied to any country or government, tech-savvy Cubans could utilize them smoothly and evade regulatory hurdles.