The National Banking and Securities Commission of Honduras (CNBS) in Honduras has issued a resolution prohibiting financial institutions from engaging in transactions involving digital assets citing lack of regulation and concerns over security.
This move highlights the risks associated with using cryptocurrencies for fraudulent activities such as money laundering and terrorism financing.
Additionally, the lack of legal recognition as a means of payment poses potential risks for users.
It is worth noting that in January 2024, Bitcoin was officially recognized as a unit of account in the Próspera economic zone in Honduras, and in 2022, the municipality of Santa Lucia integrated payments in the first cryptocurrency, with hopes of attracting tourists.
However, the CNBS’s resolution suggests that the country as a whole is not ready to fully embrace the use of digital assets.
