The Central Bank of Cuba (BCC) has, for the first time, approved 10 businesses (including 9 small and medium-sized enterprises and 1 joint venture) to use cryptocurrency for international payments. The related licenses were published in the official gazette on March 23. The licenses are valid for one year and can be renewed. Companies are only allowed to use crypto assets for cross-border payments related to their core business and must operate through virtual asset service providers (VASPs) authorized by the Cuban Central Bank. Additionally, they are required to report quarterly to regulators on transaction amounts, currencies used, and intermediary service provider information. This marks the first time Cuba has issued licenses to local businesses for direct use of cryptocurrency in cross-border payments. (Cubadebate) https://(wublock123.com)/news/cuba-central-bank-approves-10-local-firms-crypto-cross-border-payments-58854