Honduras's regulator forbade banks to conduct operations with crypto actures
he National Commission for Banks and Securities of Honduras (CNBS) has banned the storage and conduct of transactions with cryptocurrencies
The National Commission for Banks and Securities of Honduras (CNBS) has banned the storage and conduct of transactions with cryptocurrencies.
In a statement, it is stated that blockchain technologies are vulnerable to fraud, operational and legal risks. Users of cryptocurrencies may face sudden interruption of deposits and withdrawals at any time, according to representatives of CNBS.
According to the resolution, the Central Bank of Honduras cannot guarantee the safety of such operations. The Commission also notes that, due to "unregulated nature" of the industry, digital assets are often used for financing terrorism and money laundering.
In addition to storage and transaction processing, regulated organizations are prohibited from dealing with derivative instruments based on industry products.
"Prohibit institutions under the supervision of the National Commission for Banks and Securities from storing, investing, mediating or working with cryptocurrencies, cryptocurrencies, virtual currencies, tokens or any other similar virtual assets," the document states.
The document was presented on February 15, 2024, and came into force immediately after publication.
