Changelly

Cryptocurrency

100,000 Cubans Are Using Bitcoin In Response To U.S. Sanctions

2 Mins read



  • A report from NBC states over 100,000 Cubans are using bitcoin and other cryptocurrencies.
  • The adoption of cryptocurrencies was driven largely by mobile internet access which was only provided to Cubans three years ago.
  • The need for sovereign monetary technology spawns from sanctions placed against Cuba preventing the use of international standards of money.

Cuba is embracing bitcoin and other cryptocurrencies in response to burdensome U.S. sanctions, according to a report from NBC News.

There are reportedly 100,000 Cubans currently using cryptocurrencies which is largely thanks to the introduction of mobile internet access that was only provided three years ago. One particular cafe owner named Nelson Rodriguez was interviewed by NBC due to his acceptance of bitcoin and other cryptocurrencies.



Source link

Related posts
Cryptocurrency

Nomura To Launch Bitcoin, Crypto Subsidiary: Report

1 Mins read
Japanese brokerage Nomura will reportedly launch a subsidiary to offer bitcoin and other cryptocurrency services to institutional clients. The wholly-owned unit will…
Cryptocurrency

Polygon and others extend helping hand to Terra blockchain projects

2 Mins read
Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under…
Cryptocurrency

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries – Bitcoin News

4 Mins read
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of…

Leave a Reply

Your email address will not be published. Required fields are marked *