All VASPs that function in Cuba must get permission. Crypto license in Cuba is a document giving the official right to perform various operations with virtual assets and offer its services there. This permit is accessible for individuals and companies. Its validity period is one year; however, if needed, permission can be renewed.
Licenses for cryptocurrencies in Cuba are given to firms or individuals involved in next-mentioned commercial activities:
VASP license in Cuba doesn’t mean digital fiat, securities and others being used in ordinary banking institutions and are controlled by separate provisions designated by the Central Bank.
Considering application for obtaining a crypto license in Cuba, business’ legitimacy, the general characteristics of new commercial project, ability to carry out certain transactions, expertise and professional background of applicants, compliance with demands set by regulatory body, etc. certain transactions is a mandatory item that is necessary for the proper storage of VA and control over them.
If legal entity makes a request to get a VASP license in Cuba, nevertheless, it’s outside jurisdiction, permit may be issued to it, if operations of such a company will be performed for the good and in the interests of the country.
Those firms that already have a license issued in another jurisdiction may also apply for this permit. To do it, it’s necessary to register organization in Republic.
Getting a Cuba cryptocurrency license to operate as virtual assets services provider involves submission of following documentation and compliance with several conditions.
Sometimes, regulator may ask for additional data. If you want to develop a business with crypto in Cuba, our specialists are ready to help you choose a ready-made crypto business in Cuba and give comprehensive advice on all aspects of such a transaction. Contact us in any of the ways – we are always at your service.
View our current offers in categories Cryptocoins and licensing of cryptocurrency operations, Ready-made companies, Banks for sale and Licenses for sale.