Banking

Cuba to Consider Cryptocurrency in its Economic Plan 2020

• Bookmarks: 29


Cuba is considering the use of cryptocurrency as a part of the ongoing discussions on the new Economic Plan reforms. Cuba’s Councils of States and Ministers held a round table (mesa redonda) on Tuesday, broadcast on Cuban TV and attended by President Miguel Diaz-Canel. What emerged from those discussions is that the government is considering the use of cryptocurrency as a means to manage increased U.S. sanctions, strengthen its economy and assist in market reforms. The announcement by President Diaz-Canel to study cryptocurrency was made alongside other economic plans including the news of diversifying exports, increasing salary and pensions and other market reforms. Cryptocurrency is a digital asset which uses encryption techniques to transfer funds between stakeholders. It functions independently of the dollar-centered world financial…

TO READ THE FULL STORY:

 SUBSCRIBE

 SIGN IN

Unbiased reporting on economic news and business developments in Cuba by industry sector

 

comments icon0 comments
bookmark icon

Write a comment...

error: This content is copyright protected.