The National Banking and Securities Commission of Honduras imposed the ban because of the country’s lack of regulation.
Honduras’ National Banking and Securities Commission (CNBS) has issued a resolution banning the country’s financial institutions from handling crypto. The Honduran central bank is unable to guarantee crypto transactions because they are not regulated, it said.
The resolution stated that users of cryptocurrencies and financial services based on blockchain technology may be exposed to fraud and operational and legal risks, “including that their acceptance could cease at any time, since people are not legally obliged to transact or recognize them as a means of payment.”
Due to its unregulated nature, crypto assets are also liable to be used for fraud, money laundering and financing terrorism, the resolution continued. Therefore, the CNBS resolved to:
