Regulations

New Wi-Fi regulations might open the Cuban cryptocurrency space

Cuba announced that it would be allowing private Wi-Fi networks. This might spell significant changes for Cuba whose cryptocurrency space is currently close to the days crypto was not yet born. For instance, Cuba is starting from zero, and the first solution is that of formulating some environment to attract cryptocurrency trading.

For the first time, the government of Cuba announced; routers will be permitted to be imported from somewhere is a significant change from having to smuggled equipment into the country. Unfortunately, the country’s regulators will still be vigilant. Even with free Wi-Fi, ICOs (Initial Coin Offerings) and virtual currency startups will have barrier to break.

According to a Bitcoin analysis tool, Cuba stands at number 236 out of 249 countries by crypto-related activities safely; they emerge with a frightening 0.8 safety rank. This indicates that the country has huge steps to make before it can be considered crypto safe.

Under Cuba’s new plans, the state’s telecommunications company ETECSA will still require citizens waiting to plug into the state infrastructure using Wi-Fi to have a permit before connecting. Cuba is supporting countries like the US that until 2013, the internet was available at hot spots for tourist, although this is slowly improving. Luckily, it’s now allowing some access to mobile internet, aiding tourism

South American nations have been able to grab on to cryptocurrency space and make it work for them in some difficult economic circumstances. Unfortunately, the tight controls in Cuba have denied the country from benefiting.

Cuba has a long way to go on the cryptocurrency space, but the newly acquired legislations may be the beginning of Cuba to enjoying Wi-Fi connection.

Do you think new Wi-Fi regulations in Cuba will open doors for Bitcoin in the country?

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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