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Over 100,000 Cubans Are Now Using Cryptocurrency (Report)

Many Cubans are now using cryptocurrencies as an alternative means of exchange due to limitations imposed by US sanctions on the country’s traditional payment rails. Over 100,000 Cubans are reportedly using digital assets, largely thanks to mobile internet reaching the country just three years ago. 
Cuba’s Crypto Economy
NBC News recently interviewed Nelson Rodriguez – a Cuban cafe owner who now accepts both Bitcoin and Ethereum for payments. He said he believes in the “philosophy” of crypto – often associated with free-market ideals, property rights, borderlessness, and censorship resistance. 
Cuba, by contrast, is governed by a Communist Party, and citizens are unable to use internationally accepted debit and credit cards due to American sanctions. Paypal, Revolut, and Zelle are all banned in the region. 
But not cryptocurrency: The Cuban central bank announced that it would begin issuing licenses to virtual asset service providers this month. Eight months prior, the C

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