Is crypto legal in Cuba? Rules & regulation (2026)

Legal framework

Banco Central de Cuba (BCC) Resolution 215/2021 (amended 2024); Resolution 4/2026 (Gaceta Oficial Extraordinaria No. 46, March 23, 2026)

Status by sub-area

• Stablecoins

  Proposed

  The BCC announced a plan in 2025 for a government-backed Cuban-peso-pegged stablecoin targeting domestic commerce, but no implementing regulation or reserve/redemption framework has been enacted. Foreign stablecoins are addressed only under the general VASP licensing regime and require BCC authorization to be used commercially.

  Still pending: Government-backed peso stablecoin planned 2025; implementing regulation and reserve framework not yet enacted

• Exchanges / VASP

  In force

  Resolution 215/2021 requires all exchanges and VASPs to hold a BCC-issued license granted on a socioeconomic-interest basis. A 2024 amendment strengthened AML/KYC and added probity and cybersecurity requirements; licensed providers must submit quarterly transaction reports and renew annually.

• Token Offerings

  Unclear

  Cuba has enacted no specific framework for token sales, ICOs, or STOs. Any token issuance would fall under the BCC's general virtual asset authorization regime, but no securities-law classification, prospectus, or disclosure rules for token offerings have been published, and no public token offerings by Cuban entities have been officially sanctioned.

  Still pending: No token-offering framework, securities classification, or prospectus rules enacted

• Custody

  Partial

  Custody of client crypto assets is implicitly governed by the VASP licensing framework under Resolution 215/2021, which mandates cybersecurity standards and AML compliance. Cuba has not issued dedicated custody rules on client-asset segregation, cold-storage requirements, proof of reserves, or insurance.

  Still pending: Dedicated custody rules for segregation, cold storage, proof of reserves not yet issued

• DeFi

  Proposed

  Cuba's current regulatory framework does not explicitly address decentralized finance protocols or DAOs. Authorities have signaled plans to extend the BCC licensing regime to DeFi platforms under mandatory AML oversight, but no specific DeFi regulation or enforcement action has been published as of May 2026.

  Still pending: Specific DeFi regulation and DAO oversight framework for mandatory AML not yet published

• Tax

  Unclear

  Cuba has published no dedicated cryptocurrency tax regulations. Commentary from the Cuban tax authority indicates that gains from speculative trading are likely subject to standard personal income tax, and corporate crypto activity is subject to prevailing corporate income tax, but no binding guidance on capital gains treatment, VAT, staking rewards, airdrops, or mining income has been officially issued.

  Still pending: No binding guidance on capital gains, VAT, staking rewards, airdrops, or mining income

Key points: crypto & digital assets in Cuba

1. 01Resolution 215/2021, foundational framework

   Published in Cuba's Gaceta Oficial in August 2021 and effective September 15, 2021, Resolution 215 granted the BCC authority to regulate digital assets, issue VASP licenses, determine permissible tokens, and require that financial and commercial entities obtain authorization before using virtual assets.

   bc.gob.cu gacetaoficial.gob.cu

2. 02Selective VASP licensing (socioeconomic-interest test)

   The BCC is the sole licensing authority; licenses are one-year renewable and evaluated on legality and demonstrated socioeconomic benefit. Even providers already licensed in another country must obtain a separate Cuban authorization. A 2024 amendment added mandatory AML probity checks by the General Directorate of Investigation of Financial Operations, energy-consumption disclosure, and international cybersecurity standards.

   bc.gob.cu cryptocurrency.law

3. 03Resolution 4/2026, named-entity international payments

   Published in Gaceta Oficial Extraordinaria No. 46 on March 23, 2026, this BCC resolution named ten specific entities (nine private SMEs plus one mixed company) authorized to conduct international payments using virtual assets. Authorized entities must use BCC-licensed intermediaries and submit quarterly reports covering amounts, asset types, and platforms used; authorizations expire after one year.

   en.cibercuba.com gacetaoficial.gob.cu oncubanews.com

4. 04Crypto mining legalized (2025)

   Cryptocurrency mining was officially legalized in 2025 under new BCC guidelines, with sustainability conditions including a 5 MW cap per farm (special approval required above that) and requirements around renewable-energy sourcing.

   bravenewcoin.com coincub.com

5. 05Peso-pegged stablecoin, announced, not yet in force

   The BCC announced in 2025 a plan to issue a government-backed Cuban-peso-pegged stablecoin for domestic commerce, intended to reduce reliance on foreign cryptocurrencies for everyday transactions. No implementing regulation had been published as of May 2026.

   coincub.com transnetinc.com

6. 06AML/KYC and reporting obligations

   All licensed VASPs must conduct comprehensive KYC, monitor transactions, and report suspicious activity to Cuban authorities. Businesses authorized to use crypto must register operations with full transaction-level detail (accounts, amounts, assets), providing a de-facto audit trail.

   bc.gob.cu en.cibercuba.com

Timeline of decisions

1. 24 Mar 2026Decision · official
   Resolution 4/2026: BCC Licenses 10 Companies to Use Crypto for International Payments

   The Banco Central de Cuba issued Resolution 4/2026, granting one-year licenses to nine MSMEs and one joint venture (in IT, gastronomy, transport, and manufacturing) to use cryptocurrency exclusively for cross-border payments, bypassing U.S. sanctions-related banking restrictions. Licensees must file quarterly reports on amounts, crypto types, and intermediaries used.

   Granma (Official PCC organ)

2. 23 Mar 2026Decision
   BCC Resolution 4/2026: Ten Private Firms Granted Crypto Cross-Border Payment Authorization

   The Banco Central de Cuba named 10 private companies (mostly tech/digital sector, including IngeniusTecnologías and Dofleini) as the first to be permitted to use virtual assets exclusively for cross-border payments tied to their corporate purpose, with mandatory quarterly reporting to the BCC and one-year renewable authorizations revocable on non-compliance. This is the most expansive sanctioned private-sector use of crypto to date under the existing licensing regime.

   OnCuba News

3. 1 Jan 2024Decision · official
   FATF/GAFILAT Cuba 4th-Round Final Follow-up: Recommendation 15 Upgraded to Largely Compliant

   Cuba's final 4th-round FATF follow-up upgraded Recommendation 15 (virtual assets and VASPs) from Partially Compliant to Largely Compliant, recognising improvements to the domestic licensing and AML/CFT framework built since Resolution 215/2021. Cuba then transitioned to preparing for the 5th Round of Mutual Evaluations.

   FATF

4. 27 Apr 2022Law
   Decree 89/2022: VASP Licensing Framework Formalized

   The Banco Central de Cuba published Decree 89/2022 in Official Gazette No. 43, establishing a formal virtual asset service provider (VASP) licensing regime. Any Cuban or foreign individual or entity operating crypto exchanges, custody, or payment services required a one-year renewable BCC license with mandatory AML/KYC: customer ID, transaction monitoring, and sanctions-watchlist screening.

   CoinDesk / BCC Official Gazette No. 43

5. 27 Apr 2022Law · official
   BCC Resolution 89/2022: Full VASP Licensing Regime Published in Gaceta Oficial No. 43

   Expanding Resolution 215/2021 in 21 detailed sections, Resolution 89/2022 established the complete operating rules for virtual asset service providers: a 90-business-day approval window, mandatory AML/KYC obligations, five-year record-keeping, Cuban financial accounting standards, and a probity check by the BCC's General Directorate of Financial Operations Investigation. Licences run one year, renewable for a second, reflecting the sector's still-experimental status.

   Gaceta Oficial de Cuba

6. 15 Sept 2021Law · official
   Resolution 215/2021 Enters into Force

   Twenty days after its publication in the Gaceta Oficial, Cuba's first crypto-specific regulation became operative, formally opening the BCC licensing window for virtual asset service providers and subjecting all commercial use of virtual assets to central-bank oversight.

   Banco Central de Cuba

7. 1 Sept 2021Law · official
   Resolution 215/2021: BCC Formally Recognizes Cryptocurrencies as Legal Payment Instruments

   Cuba's Banco Central de Cuba issued Resolution 215/2021 — published in the Official Gazette and effective September 2021 — formally recognizing virtual assets including Bitcoin as a legal medium of payment and investment 'for reasons of socioeconomic interest.' The BCC was designated the sole licensing and supervisory authority for all crypto-related commercial activity, the first explicit crypto legal framework in Cuba.

   Library of Congress Global Legal Monitor

8. 26 Aug 2021Law · official
   BCC Resolution 215/2021 Published: Cuba Formally Recognises and Regulates Virtual Assets

   Published in Gaceta Oficial No. 73 Extraordinaria, Resolution 215/2021 is the foundational law of Cuba's crypto framework: it officially defines virtual assets as a legal payment and investment instrument, designates the BCC as the sole VASP licensing authority, and makes individuals who transact outside the licensed system bear full civil and criminal liability — while not prohibiting peer-to-peer transactions. The regulation cites US-sanctions-driven financial exclusion and FATF compliance as its twin rationales.

   Gaceta Oficial de Cuba

9. 1 Jan 2015Decision · official
   GAFILAT Conducts Cuba's 4th-Round Mutual Evaluation — Establishes AML/CFT Baseline

   Cuba's regional FATF body (GAFILAT) completed its 4th-round mutual evaluation, setting the compliance baseline — including an initial (low) rating on Recommendation 15 (virtual assets) — against which the 2022 and 2024 follow-up reports measured subsequent progress, and providing the international AML/CFT framework that Cuba's 2021–2022 crypto regulations were explicitly designed to satisfy.

   FATF

Sources

1. 1.bc.gob.cu/noticia/banco-central-de-cuba-regula-el-uso-de-criptomonedas-en-el-te
2. 2.bc.gob.cu/noticia/como-regula-cuba-el-uso-de-criptomonedas-en-el-territorio-nac
3. 3.gacetaoficial.gob.cu/es/criptomoneda
4. 4.gacetaoficial.gob.cu/es/activos-virtuales
5. 5.en.cibercuba.com/noticias/2026-03-24-u1-e208574-s27061-nid323869-regimen-cubano-autori
6. 6.oncubanews.com/cuba/cuba-autoriza-a-diez-empresas-privadas-a-usar-criptomonedas-para
7. 7.cnbc.com/2021/08/27/cubas-central-bank-now-recognizes-cryptocurrencies-like-bi
8. 8.plenglish.com/news/2021/09/16/cubas-bcc-issues-cryptocurrency-related-resolution/
9. 9.cryptocurrency.law/exploring-the-2024-cryptocurrency-regulatory-environment-in-cuba/
10. 10.bravenewcoin.com/insights/cuba-turns-to-bitcoin-and-crypto-to-survive-60-years-of-u-s-
11. 11.coincub.com/countries/cuba/
12. 12.transnetinc.com/cuba-s-crypto-revolution-adoption-amid-government-restrictions