News

Communist nation embraces cryptocurrency to avoid US sanctions

Published

4 years ago

August 30, 2021

This Communist country will regulate and recognise cryptocurrencies as demand grows for the digital currency

As the popularity of cryptocurrency continues to gain speed in across the world, Cuba says that it will officially recognise and regulate crypto payments.

The central bank says that it will set rules and determine how to license providers in the space. The state cited “reasons of socioeconomic interest” are behind the decision.

The move could help the Communist nation circumvent American sanctions which were enacted by former president Trump.

The fact that Cuba no longer accepts USD is major news. This is only the first domino to fall. Uncle Sam has 30 trillion of debt, and so this debt puts the USD on the cliff. Crypto is value outside of fiat. The network effect ensures the future of crypto. $crypto
— CryptoBuddha589 (@CryptoBuddha589) August 29, 2021

The decision to recognise crypto marks a historic moment

“It’s historic that they are embracing it,” Boaz Sobrado told CNBC. Sobrado is a London-based fintech data analyst, who spent four years working in crypto in Cuba.

“This is a conservative government still set in traditional Marxist ways. In fact, the communist Cuban central bank was founded by Che Guevara. The fact that they are cautiously regulating shows they are interested in what it can bring them,” Boaz said.

People participate in a rally outside the White House in Washington, Tuesday, July 13, 2021, in support of the protesters in Cuba. (AP Photo/Susan Walsh)

US-Cuba relations

Current US president Joe Biden is yet to reverse the restrictions, despite expectations that he would normalise relations with the country.

Instead, Biden has cracked down even further following government retaliation to protests in Cuba.

The state has assured that it will be keeping a tight control of crypto transactions within its borders. It also has explicitly outlined that crypto will not be used to facilitate illegal activity.

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News

Israel and Hamas agree to landmark hostage deal

Israel and Hamas agree to release hostages in U.S.-brokered deal, marking a potential turning point in Gaza conflict.

Published

1 day ago

October 10, 2025

ticker NEWS

Israel and Hamas agree to release hostages in U.S.-brokered deal, marking a potential turning point in Gaza conflict.

In a major diplomatic breakthrough, Israel and Hamas have agreed to release all remaining Israeli hostages under a U.S.-brokered framework. The deal pairs prisoner exchanges with an Israeli troop pullback and expanded aid access, marking a potential turning point in the two-year Gaza conflict.

The agreement, set for approval by Israel’s cabinet, could pave the way for lasting peace if both sides uphold the terms. It follows weeks of negotiations led by U.S. envoys and regional mediators in Egypt, Qatar, and Türkiye.

As international agencies prepare to facilitate aid and logistics, the world watches to see whether this fragile deal can hold and bring relief to millions affected by the war.

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News

Google leads Australia media tax rankings

Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.

Published

2 days ago

October 9, 2025

ticker NEWS

Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.

Google is currently on the of top of Australian media tax payments, while Netflix, Dentsu, and Singtel pay nothing, sparking a fresh debate over fairness and corporate responsibility in the industry.

#TaxTransparency #Google #Netflix #CorporateResponsibility #AustraliaBusiness