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Why This Matters in Cuba
Due to U.S. sanctions, traditional remittance services like Western Union and PayPal are blocked in Cuba. Crypto offers a practical alternative that bypasses these restrictions.
Example: Sending $100 through traditional services (10% fee) would cost $10 in fees, while crypto (1% fee) costs only $1. That's $9 in savings for your family in Cuba.
Many people assume Cuba banned cryptocurrency. That’s not true. In fact, Cuba is one of only two countries in the world that officially recognizes Bitcoin and other digital currencies as legal payment methods. The idea of a "prohibition" is a myth - what’s really happening is a carefully managed, state-controlled adoption of crypto to survive economic isolation.
Why the Myth of a Ban Exists
The confusion comes from how Cuba was portrayed in 2020. Back then, cryptocurrency use was exploding underground. People were trading Bitcoin to get money from relatives abroad, buying goods online, and paying for services without banks. But since there were no official rules, outsiders assumed the government was turning a blind eye - or worse, planning to crack down. That changed in August 2021. Cuba’s government published Resolution 215 in its Official Gazette. This wasn’t a ban. It was a rulebook. The Central Bank of Cuba was given full authority to license and monitor crypto service providers. Suddenly, using Bitcoin wasn’t a gray-area activity - it was legal, if you followed the rules.The Real Reason Cuba Embraced Crypto
This wasn’t about tech hype. It was about survival. For over 60 years, U.S. sanctions have choked Cuba’s access to the global financial system. American banks won’t process transactions with Cuban entities. PayPal, Venmo, and Western Union shut down operations on the island. Credit cards issued by U.S. banks are useless there. Even sending money home from Miami became nearly impossible after 2020, when Western Union closed its 400+ Cuban branches. The Cuban Assets Control Regulations (CACR), enforced under 31 CFR 515.101-515.901, freeze Cuban assets under U.S. jurisdiction and block nearly all financial links between the U.S. and Cuba. Families were cut off. Small businesses couldn’t pay suppliers. People couldn’t buy medicine or parts for equipment online. Crypto became the workaround. Bitcoin, Ethereum, and Avalanche moved across borders without banks. No intermediary. No approval needed. No freeze on accounts. For many Cubans, crypto wasn’t an investment - it was a lifeline.How the System Works Today
Today, you can legally accept Bitcoin as payment in Havana - if you have a license. The Central Bank of Cuba reviews applications based on two things: legality and socioeconomic interest. Only those who meet strict anti-money laundering (AML) rules and customer verification standards get approved. Licensed providers must report suspicious activity. They must keep records. They must verify identities. It’s not wild west - it’s regulated finance, just digital. As of 2025, around 100,000 to 200,000 Cubans use cryptocurrency regularly. That’s 1-2% of the population. Sounds small? Consider this: mobile internet only became widely available in Cuba in 2018. Most people still use 3G. Many don’t have smartphones. Yet, tens of thousands are using crypto to send remittances, buy food online, and pay for repairs.
What People Are Actually Doing With Crypto
Here’s what crypto does in daily Cuban life:- Receiving money from family abroad: A Cuban living in Miami sends Bitcoin to a relative in Santiago. The recipient cashes out via a licensed exchange, gets pesos, and buys groceries. No bank, no delay, no fee from Western Union.
- Buying from international websites: Amazon doesn’t ship to Cuba. But if you have crypto, you can use third-party resellers who accept Bitcoin and ship from third countries.
- Peer-to-peer transactions: A mechanic in Camagüey accepts Ethereum for fixing a car. The client pays via a local wallet app. No need for a bank account.
- Accessing global services: Subscription platforms like Spotify or Netflix don’t accept Cuban cards. Some users pay with crypto through intermediaries.
Challenges Still Exist
It’s not perfect. There are real barriers:- Internet access: Speed is slow. Data is expensive. Not everyone can use crypto apps reliably.
- Lack of education: Many older Cubans don’t understand wallets, private keys, or how to secure their funds. Scams are common.
- Licensing hurdles: Getting a license as a small business is tough. The process is bureaucratic. Many still operate informally.
- Volatility: Bitcoin’s price swings make it risky for daily purchases. Some prefer stablecoins like USDT, but those are harder to cash out legally.
How Cuba Compares to Other Countries
While China banned crypto entirely and India slapped heavy taxes, Cuba took a different path. It didn’t fight the trend - it harnessed it. Other sanctioned nations - like Iran or Venezuela - also use crypto to bypass restrictions. But Cuba’s approach is unique because it’s official. The government didn’t just tolerate it - it built a legal framework around it. That’s rare. Experts call it a pragmatic model. Instead of trying to stop people from using crypto, Cuba decided to control it. That way, they can monitor flows, prevent laundering, and still let citizens survive.What’s Next for Cuba’s Crypto Scene
The Central Bank is still issuing new licenses. The rules are getting clearer. More service providers are popping up. As internet access improves - and more people get smartphones - adoption will grow. There’s also talk of a state-backed digital peso. But that’s separate from crypto. The government wants to control its own digital currency, not replace Bitcoin. In fact, they’re keeping both systems running side by side. The big question isn’t whether crypto will be banned. It’s whether the U.S. will ever ease sanctions. Until then, crypto remains Cuba’s most reliable financial tool.Final Thought: It’s Not About Technology - It’s About Freedom
Cuba didn’t adopt cryptocurrency because it’s cool. They did it because they had no other choice. For families separated by borders, for small businesses blocked from global markets, for students trying to buy textbooks - crypto isn’t speculation. It’s survival. The myth of a prohibition ignores the real story: Cuba didn’t ban crypto. It turned it into a tool of economic resilience.Is cryptocurrency illegal in Cuba?
No, cryptocurrency is not illegal in Cuba. Since August 2021, the Cuban government has officially recognized Bitcoin and other digital currencies as legal payment methods under Resolution 215. The Central Bank of Cuba regulates crypto service providers and requires licenses for businesses that accept or trade crypto.
Can Cubans use Bitcoin to send money from the U.S.?
Yes, many Cubans use Bitcoin to receive money from family in the U.S. Since traditional services like Western Union and PayPal are blocked due to U.S. sanctions, crypto offers a direct, bank-free way to transfer funds. Recipients cash out through licensed Cuban exchanges and convert to Cuban pesos.
Why did Cuba allow crypto when other countries banned it?
Cuba allows crypto because it’s a practical solution to decades of U.S. economic sanctions. The country has been cut off from global banking systems since 1962. With no access to PayPal, credit cards, or international money transfers, crypto became the only viable way for citizens to participate in the global economy. Rather than fight it, the government chose to regulate it.
Do Cuban banks accept cryptocurrency?
No, Cuban state banks do not directly handle cryptocurrency. However, the Central Bank of Cuba licenses private virtual asset service providers that act as intermediaries. These licensed companies allow users to buy, sell, and convert crypto into Cuban pesos - but they are separate from the national banking system.
How many people in Cuba use cryptocurrency?
An estimated 100,000 to 200,000 Cubans use cryptocurrency regularly as of 2025. That’s about 1-2% of the population. While this seems low, it’s significant given that widespread mobile internet access only began in 2018 and smartphone ownership remains limited.
Is Cuba planning to launch its own cryptocurrency?
Yes, Cuba is exploring a state-backed digital peso, but it’s not the same as Bitcoin. The government wants a centralized digital currency controlled by the Central Bank, not a decentralized one. They plan to run it alongside regulated crypto, not replace it. The goal is to modernize payments while maintaining financial control.
Can tourists use crypto in Cuba?
Technically, yes - but it’s not practical. Most businesses that accept crypto are local service providers or online platforms. Tourists typically pay in cash (CUP or CUC) or with foreign credit cards that work on the island. Crypto is mainly used by residents to bypass financial restrictions, not by visitors.
Cryptocurrency Guides
Jerrad Kyle
November 17, 2025 AT 09:46Cuba didn't ban crypto-they outsmarted it. While the U.S. tries to choke them with sanctions, Cubans are building their own financial backbone with Bitcoin. It's not about speculation. It's about feeding families, paying mechanics, and buying medicine when the system tries to erase you. This isn't tech porn. It's resistance with a wallet.
And yeah, the government's watching. But they're watching to protect people, not punish them. That's the opposite of what most Western governments do.
Imagine if your bank froze your account because you lived in the wrong country. You'd do the same thing. We just don't see it because we're not starving for access.
Respect.
PS: The fact that 200k people are using crypto on 3G with no smartphones? That's not a footnote. That's a revolution.
Usama Ahmad
November 17, 2025 AT 17:41Bro this is wild. In India we got taxed 30% on crypto and still can't use it for payments. Cuba just made it legal and regulated. No drama. No panic. Just practical. They didn't fight the future-they adapted to it. Honestly, we should be learning from them, not judging.
Also, the part about Western Union shutting down? That's brutal. No wonder people turned to Bitcoin. It's not a choice-it's survival.
Henry Lu
November 18, 2025 AT 20:32So Cuba lets crypto because they’re too broke to stop it? Classic. They’re not smart-they’re desperate. You call this ‘regulation’? It’s just a band-aid on a hemorrhaging economy. Meanwhile, real nations like the U.S. and EU are building actual digital currencies, not letting citizens gamble with Bitcoin to buy rice.
And don’t act like this is some heroic move. It’s a failure dressed up as innovation. Pathetic.
Ella Davies
November 19, 2025 AT 21:48I’ve read a lot about crypto in sanctioned countries, but this is the first time I’ve seen the human side laid out so clearly. The mechanic in Camagüey accepting Ethereum? That’s not finance. That’s dignity.
It’s not about the tech. It’s about people finding a way to live when the world tries to lock them out. I used to think crypto was just for investors. Now I see it as a tool for basic human rights.
Darren Jones
November 21, 2025 AT 19:59Let’s be clear: This isn’t about Bitcoin being ‘good’ or ‘bad.’ It’s about power. The U.S. government controls the global financial system. When they cut Cuba off, they didn’t just block transactions-they blocked survival.
Cuba didn’t ‘choose’ crypto. They were forced into it. And instead of pretending it didn’t exist, they built rules around it. That’s not weakness. That’s leadership.
Also, 100K–200K users on 3G? That’s more adoption than most developed countries achieved in their first five years of crypto rollout.
Stop calling it a workaround. Call it a win.
Kathleen Bauer
November 22, 2025 AT 12:36OMG I just cried reading this. My abuela in Miami used to send money through Western Union and it took 3 days and $50. Now? She sends a Bitcoin QR code. My tía cashes it out in 10 mins. No bank. No fees. Just love.
People think crypto is for tech bros. But here? It’s for grandmas. For students. For people who just want to eat. And that’s beautiful.
Also, the fact that the government didn’t ban it? That’s the most Cuban thing ever. They don’t say no-they say ‘how can we make this work?’ 😭❤️
Carol Rice
November 22, 2025 AT 14:41YESSSSS! This is the story that mainstream media NEVER tells! They paint Cuba as some backward dictatorship-but look what they did! While the U.S. was busy sanctioning, Cuba was building a financial lifeline for its people! That’s not just smart-that’s revolutionary!
And let’s not forget: this isn’t some underground black market. It’s LEGAL. REGULATED. LICENSED.
Who’s the real innovator here? The U.S.? Or the country that turned oppression into opportunity?
WE NEED MORE CUBAS IN THIS WORLD. 🔥🔥🔥
Laura Lauwereins
November 23, 2025 AT 10:34So… the U.S. bans Cuban access to the global economy… and then gets mad when Cubans use crypto to survive? How is that not the definition of cruelty dressed up as policy?
It’s like locking someone in a room, then yelling at them for breaking the window to get air.
Also, calling this ‘pragmatic’ is an understatement. It’s genius. And honestly? Kinda sad that we had to wait for a sanctioned island nation to show us how to handle tech responsibly.
Gaurang Kulkarni
November 23, 2025 AT 15:27100k users out of 11 million is statistically negligible. The entire narrative is built on emotional anecdotes and cherry-picked examples. The fact that most Cubans still use cash and struggle with internet access undermines the idea of any meaningful adoption. This isn’t a revolution-it’s a footnote in a failing economy. The government allows crypto because it can’t stop it, not because it wants to. Regulation here is just a veneer over chaos. The real story is how little this changes daily life for the average Cuban. Most still can’t afford a smartphone. Most still can’t reliably connect. The crypto users are a tiny elite with access to foreign remittances. This isn’t economic resilience. It’s a privilege of the connected few.
And the idea that this is unique? Iran and Venezuela have been doing this for a decade. Cuba just got late to the party and slapped a license on it to look competent.
Nidhi Gaur
November 25, 2025 AT 09:48But like… how do you even get crypto if you don’t have a bank? And how do you cash out without getting arrested? I feel like this is the kind of thing that sounds cool on paper but in real life it’s full of traps.
Also, I read somewhere that some people get scammed because they don’t know how to store keys. Like… imagine sending your life savings to the wrong address. That’s not freedom. That’s terrifying.
Jerrad Kyle
November 26, 2025 AT 07:14Exactly. That’s why the licensing system exists. Every licensed provider has to verify identity, keep logs, and report fraud. It’s not perfect-but it’s better than Western Union’s $50 fee and 3-day wait.
And yeah, scams happen. But so do scams with cash transfers. At least with crypto, you can trace it. With cash? Gone forever.
Also-100k people? That’s 100k families who can now eat. That’s not ‘negligible.’ That’s a lifeline. You don’t need 10 million users to change lives. You just need enough to matter.
nikhil .m445
November 26, 2025 AT 23:33Oh wow so Cuba is like the new Switzerland of crypto? 😂 So cute. But let me tell you something, in India we have 200 million crypto users and they all pay taxes. You think Cuba’s 200k users are doing anything real? They’re just cashing out remittances. That’s not adoption. That’s desperation. And you call it ‘resilience’? LOL. Real nations build infrastructure. Cuba builds QR codes. 😅
Usnish Guha
November 27, 2025 AT 08:06It’s obvious. The Cuban government allows crypto because they know they can tax it later. They’re not being ‘pragmatic.’ They’re being opportunistic. This isn’t freedom-it’s control disguised as tolerance. And anyone who thinks this is a model for the world is naive. You can’t build an economy on remittances and Bitcoin. You need industry. You need jobs. You need a future. This is just a temporary fix for a broken system. And it’s sad.
rahul saha
November 28, 2025 AT 15:28There’s a deeper truth here: Crypto isn’t about money. It’s about autonomy. When you’re cut off from the world, the only thing left is the ability to transact without permission. That’s not a workaround. That’s the birth of a new kind of sovereignty.
Cuba didn’t adopt Bitcoin. They adopted the idea that people deserve to control their own value. And that’s more powerful than any central bank.
Also-3G wallets? That’s poetry. The future isn’t in 5G. It’s in the quiet persistence of people who refuse to be erased.
Marcia Birgen
November 29, 2025 AT 09:05THIS. THIS IS WHY I LOVE HUMANITY. 💖
People think tech is about speed and apps and NFTs. But here? It’s about a grandmother in Santiago getting groceries because her daughter in Miami sent her a QR code.
No bank. No bureaucracy. Just love. Translated into blockchain.
And the government didn’t stop it. They didn’t crush it. They made it safe.
This is what leadership looks like. Not with tanks. With wallets.
Thank you for writing this. I’m sharing it everywhere.
Nathan Ross
November 30, 2025 AT 13:53