Gate News reports that on March 31, the Central Bank of Cuba (BCC) for the first time approved 10 companies to use cryptocurrencies for international payments, including 9 small and micro enterprises and 1 joint venture. The license is valid for one year, and companies may apply for renewal. According to regulations, companies can only use crypto assets for cross-border payments related to their main business and must operate through virtual asset service providers (VASPs) that have obtained permission from the Central Bank of Cuba. Additionally, companies are required to report transaction amounts, the currencies used, and information about intermediary service providers to the regulator on a quarterly basis. It is reported that the Central Bank of Cuba has been regulating virtual assets since 2021, and starting in April 2022, it began allowing the use of Bitcoin and other cryptocurrency platforms under official authorization. This approval marks the first time a Cuban company has received a license to directly conduct international payment operations.
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