Honduras bans banks from dealing with digital assets
Despite regional adoption, banks in Honduras are now banned from investing in, intermediating, or maintaining accounts for entities involved in digital assets.
Despite regional adoption, banks in Honduras are now banned from investing in, intermediating, or maintaining accounts for entities involved in digital assets.
Próspera ZEDE economic zone adopted BTC as legal tender in 2022 and now recognizes it as a unit of account, allowing its use for commercial and tax reasons.
Honduras aims to improve its cross-border payments and financial inclusion with a central digital bank currency public consultation and plans to engage citizens through instant settlement and low fees.
The central bank emphasized that citizens who transact with digital assets will bear responsibility for any risks they face from the high volatility of digital assets.
Referencing two previous communiqués in 2020 and 2021, the bank stated that it does not “supervise or guarantee operations carried out with cryptocurrencies as means of payment in the national territory.
Following the bold steps of El Salvador, countries in Central America such as Honduras and Guatemala are looking into analyzing digital currencies with a goal to adopt them.
The technology will be used to monitor the supply chain of Honduran coffee beans.