The Honduran regulator prohibits banks from holding, trading with crypto
The National Banking and Securities Commission of Honduras (CNBS) has issued a resolution banning the handling of crypto by the country's financial institutions. The Central Bank of Honduras cannot guarantee crypto transactions as they are not regulated, he said.
The resolution states that users of cryptocurrencies and financial services based on blockchain technology may be exposed to fraud and operational and legal risks. payment”
Due to their unregulated nature, crypto assets can also be used for fraud, money laundering and terrorist financing, the ruling continued. Therefore, CNBS has decided to:
“Prohibit institutions regulated by the National Bank and Securities Commission from owning, investing in, interfering with, or dealing in cryptocurrencies, cryptocurrencies, virtual currencies, tokens, or other similar virtual assets.”
Regulated institutions are also prohibited from holding derivatives based on crypto assets. The resolution calls for the risks associated with crypto assets to be included in financial education programs. Crypto exchanges operate for free in Honduras.
The CNBS is part of the Presidential Administration of Honduras. In the year The resolution issued on February 12 was released on February 15. He said it was unanimously approved and will take effect immediately.
Related: Honduras Gets First Bitcoin ATM
The Central Bank of Honduras has issued a warning about the use of crypto after newspaper reports that the country may follow El Salvador's lead in making Bitcoin (BTC) legal tender in March 2022. At the same time, the central bank stated that it is studying digital currency issuance.
I have been in Honduras for about a month now.
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Some… pic.twitter.com/aYNfjB5lME
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Nevertheless, Bitcoin has made some inroads into Honduras. The country opened its Bitcoin Valley in the summer of 2022 in hopes of attracting tourists who can pay in Bitcoin, US dollars or Honduran lempiras.
Honduras is home to Prospera, a special economic zone on the island of Roatan, where bitcoin became legal tender in 2022 and was designated as a unit of account in January. It is not clear how the CNBS decision will affect those areas.
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