{"id":38675,"date":"2024-02-18T18:07:23","date_gmt":"2024-02-18T18:07:23","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/02\/18\/honduras-regulator-bans-institutions-from-trading-crypto\/"},"modified":"2024-02-18T18:07:23","modified_gmt":"2024-02-18T18:07:23","slug":"honduras-regulator-bans-institutions-from-trading-crypto","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/02\/18\/honduras-regulator-bans-institutions-from-trading-crypto\/","title":{"rendered":"Honduras regulator bans institutions from trading crypto"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/honduras-border-crossing-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/honduras-border-crossing-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/honduras-border-crossing-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/honduras-border-crossing-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/02\/honduras-border-crossing.jpg\" alt=\"\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Honduras\u2019 banking regulator the National Banking and Securities Commission, or CNBS, has introduced a direct ban that prohibits institutions from trading crypto.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The banking regulator reached the decision on Monday and cites fraud and cash laundering amongst causes for the transfer, Reuters reported.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Honduras\u2019 National Banking and Securities Commission, or CNBS, has banned institutions underneath its regulatory purview from trading <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">cryptocurrencies<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The banking regulator introduced the measure this week, Reuters <a href=\"https:\/\/www.reuters.com\/technology\/honduras-watchdog-bans-institutions-trading-crypto-2024-02-16\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> on Friday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the report, the CNBS\u2019 decision got here into impact instantly, with the Central American nation citing use of digital belongings in fraud and cash laundering as key dangers and the explanations for the ban.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In this case, no establishment supervised by the regulator can maintain, intermediate, commerce or put money into crypto tokens or such different unauthorized digital belongings. <\/span><\/p>\n<h2><span style=\"font-weight: 400\">Crypto fraud and cash laundering<\/span><\/h2>\n<p><span style=\"font-weight: 400\">While noting that there are a number of crypto platforms providing providers within the nation, Honduras doesn&#8217;t regulate these entities. With most domiciled in varied components of the world, the Honduran legislation doesn&#8217;t management their operations, and that there\u2019s the danger of such corporations facilitating fraud, cash laundering and terrorism financing.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The regulatory watchdog reached the decision to ban all institutions underneath its purview from crypto trading on Monday, February 12, Reuters famous. However, the transfer solely turned public on February 16.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The transfer comes amid a basic strengthening of <a href=\"https:\/\/coinjournal.net\/news\/category\/policy-and-regulation\/\">crypto regulation<\/a> throughout the globe, with governments working with worldwide our bodies similar to FATF to assist streamline legal guidelines for the sector.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But notably, the Honduras Prospera zone \u2013 Pr\u00f3spera Zone for Employment and Economic Development (ZEDE) \u2013 formally<\/span><a href=\"https:\/\/coinjournal.net\/news\/honduras-prospera-zone-recognizes-bitcoin-as-an-official-unit-of-account\/\"> <span style=\"font-weight: 400\">recognized Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> as a unit of account early this 12 months. In July 2022, the group manufactured from Blockchain Honduras, Coincaex crypto alternate and the Technological University of Honduras<\/span><a href=\"https:\/\/coinjournal.net\/news\/honduras-opens-the-bitcoin-valley-in-santa-lucia\/\"> <span style=\"font-weight: 400\">unveiled the \u201cBitcoin Valley \u201d in<\/span><\/a><span style=\"font-weight: 400\"> the Honduran municipality of Santa Lucia.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/honduras-regulator-bans-institutions-from-trading-crypto\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Honduras\u2019 banking regulator the National Banking and Securities Commission, or CNBS, has introduced a direct ban that prohibits institutions from trading crypto. The banking regulator reached the decision on Monday and cites fraud and cash laundering amongst causes for the transfer, Reuters reported. Honduras\u2019 National Banking and Securities Commission, or CNBS, has banned institutions 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