Cuba is assessing cryptocurrency technologies with Cuban president Miguel Díaz-Canel at the same time warning against companies who take advantage of Cuban citizens.
Habana Vieja. Photo: Jonah Elkowitz

Last week Startup Cuba’s Dachelys Valdés Moreno published a story about Bitcoin and crypto in Cuba. According to reporting by Bitcoin News, some members of the Communist Party of Cuba (PCC) have suggested that the country should consider the adoption of cryptocurrencies. There’s news that Cuban president Miguel Díaz-Canel has been speaking of this same idea for “the convenience” of the national economy.

It’s speculation at the moment. However, based on this reporting, the Cuban government is assessing the technologies. They’re also looking at it with caution in light of recent crypto-related Ponzi schemes which have been alleged to take advantage of Cuban citizens. The director of Trust Investing, Ruslan Concepcion, who ran the most popular of these scams,  was arrested by Cuban authorities and awaits trial on illicit economic activities charges.

For our Question of the Week, we want to know what you think about this? Should Cuba consider cryptocurrencies to stimulate its economy? (All responses are anonymous.)

What Do You Think?

Street vendors in Havana. Photo: Jonah Elkowitz

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Hola todo el mundo. Sometimes we like to share stories as a team. When we do, this is the author.

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