Western Union to cease operations
Western Union will have to cease its operations along with 407 offices in response to the sanctions imposed on the 27th of October 2020. The US Treasury Office of Foreign Assets Control (OFAC) put the sanctions in place. Cuba Government is putting pressure on the Western Union due to USA sanctions which prevent citizens from […]
Cuba increases crypto adoptions as the government seeks to regulate the market
The crypto market reaches every corner of the world, including Cuba. Recently, an increase in crypto negotiations was shown from the island, where around 100,000 citizens are counted using the tokens to avoid economic blockades. The curious thing is that the island lacks a good internet connection, but this has not been an impediment for […]
Cuba ready to allow crypto payments for socioeconomic reasons
TL;DR Breakdown: The Cuban government says it will recognize and regulate crypto payments. Crypto adoption has risen significantly in the country following the sanction imposed by the US government. The government of the Republic of Cuba is ready to allow and regulate the use of Bitcoin and other cryptocurrencies within the country for payments, according […]
Crypto adoption: US sanction causes Cubans to embrace cryptocurrencies
TL:DR Breakdown: Crypto adoption is rising in Cuba, following the closure of Western Union in the country. The payment company stopped serving Cubans following a recent sanction imposed on the country by the Trump administration. Money remittance has become a challenge for the residents in Cuba, including the natives living outside the country. This follows […]
Bitcoin adoption in Cuba set to surge after Western Union exit
US sanction force Western Union to quit Cuba Boaz Sobrado explains how Western Union exit would lead to Bitcoin adoption rise Bitcoin adoption is tipped to rise in Cuba as money transfer giant Western Union set to exit the Carrabin country. The money transfer giants are exiting Cuba because of US sanctions against Cuba’s communist […]
