The Central Bank of Cuba (BCC) announced on Tuesday that it will issue licenses to virtual asset service providers. Licenses are available to both Cuban and foreign natural or legal persons, according to a Spanish-language resolution published in the Cuban Official Gazette.
Given the experimental and innovative nature of such activities, the approved licenses are valid for one year and may be extended for another year, the central bank said.
These providers will be allowed to operate with BCC-approved virtual assets, the resolution said, without giving further details. But it made it clear that virtual assets do not include digital representations of fiat currencies, securities and other financial assets widely used in traditional banking and financial systems, as these assets are regulated among other Cuban central bank regulations.