您现在的位置是:Cubans Skirt US Sanctions With Underground Crypto Network >>正文
Cubans Skirt US Sanctions With Underground Crypto Network
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛59762人已围观
简介A complex and extensive network of crypto enthusiasts facilitate remittances from the US to CubaIt a...
A complex and extensive network of crypto enthusiasts facilitate remittances from the US to Cuba
It appears that Cubans have found modern solutions in their attempts to circumvent the embargo sanctions that were imposed by the US Government back in 1962. A report, released on October 26 by Cuba’s AFP news agency, revealed that remittances set from the US to Cuba often pass through a complex underground network of crypto enthusiasts before it is converted into Cuban pesos.
A 33 year old programmer and local Youtuber, Erich Garcia, told AFP that people who are planning to send remittances to the country need to buy Bitcoin and send it through a Cuban crypto exchange called BitRemesas.
“We do not have access to payment platforms or with Stripe, or with Visa, Mastercard, Paypal, Union Pay, we do not have access to anything, to any of those resources. What technology has allowed us to dream, see other scenarios? The blockchain, bitcoin.” Garcia explained.
The crypto users who are on the island will then bid to offer recipients the best price for their coins on WhatsApp or Telegram. A middleman from the network will receive, on average, a 25% commission for their part in facilitating the risky and legally questionable operation.
Once a deal is reached between the two parties, both sides will set a time and date to complete the trade. Entities that are trading Cuban pesos for Bitcoin will often go through long and intense bike journeys through the Caribbean heat just to finalise these transactions.
While the group appears to be an informal, self organised setup, thousands also appear to be using their services.
While cryptocurrency is a thriving industry in the Caribbean island, it appears that the Cubans who use Bitcoin on the island are forced to do so in secret. This is due to the strong restrictions by the government.
“Thousands of Cubans buy cards at Bitrefill to consume those digital services by paying with cryptocurrencies. There is no other way,” Cruz stated.
While it is not possible to say how many people in Cuba have already started using Bitcoin, a Cuban expat based in Brazil named Claudia Rodriguez said that her exchange served almost 7,000 Cuban user accounts by November 2019. However, as of August 2020, she had to stop the exchange’s operations for legal reasons. One such reason was a lack of regulatory clarity from the Central Bank of Cuba.
“Due to the economic crisis caused by the pandemic and the new restrictions in Cuba, cryptocurrencies can be an efficient solution. It is a shame that we cannot continue to support the community at this time,” Rodriguez lamented.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/68415.html
相关文章
Pi Network: Is This Crypto Legit or Is It a Scam and Pyramid Scheme?
Cubans Skirt US Sanctions With Underground Crypto NetworkThe Pi Network is a controversial “cryptocurrency” that has attracted millions of users...
阅读更多
Whales buy over 400 million Dogecoins in the current dip
Cubans Skirt US Sanctions With Underground Crypto NetworkThe crypto market has quite literally crashed today. Everything is red as investors steer clear of r...
阅读更多
Human Protocol announce the launch of its Routing Protocol
Cubans Skirt US Sanctions With Underground Crypto NetworkHuman Protocol is introducing a decentralised way to coordinate distributed job markets.HUMAN Protoc...
阅读更多
热门文章
- Over $2B is locked in Ethereum
- KuCoin CEO dismisses rumours of insolvency and withdrawal bans
- Blockchain Technology To Be Used To Govern China’s Aerospace City
- ADA, AVAX and SOL: why these altcoins have huge potential for growth
- Top 4: Cryptocurrencies to watch in the last quarter of 2020
- DeFi platform Exponential raises $14 million in seed round