Cuba evaluates convenience of use of cryptocurrencies

Cuban President Miguel Díaz Canel warned that the Cuban state does not promote or endorse practices reported in the country with cryptocurrencies.

During a meeting with the governors of the country's provinces, reported by Prime Time Television Newscast on Monday, the Cuban leader spoke about recent press reports on a financial phenomenon observed globally and from which the Caribbean island has not been exempted.

He referred to monetary operations carried out by transnational companies that using cryptocurrencies develop speculative schemes, and seek to maximize profits through procedures that could be grounds for fraud.

The President stressed that these operations are neither promoted nor endorsed by the Cuban state.

Regarding the issue of cryptocurrencies, the dignitary expressed that Cuba has been evaluating the convenience of their use, a matter on which the population will be informed when the corresponding conclusions are reached.