TechFlow news: The National Banking and Securities Commission of Honduras stated in a resolution that it has banned the country's financial system from transacting cryptocurrencies and similar virtual assets due to risks of fraud and money laundering. The resolution is "effective immediately." Dated next Monday, the resolution was released this Friday. It prohibits institutions under its supervision from "holding, investing in, intermediating, or trading cryptocurrencies, crypto assets, virtual currencies, tokens, or any similar virtual assets not issued or authorized by the central bank."
Currently, Honduran law does not regulate crypto assets, although platforms that trade such assets do operate in the country. The regulator noted that since many of these platforms are registered across multiple jurisdictions, Honduran law cannot control them, and they may be involved in "fraud, money laundering, and terrorist financing activities." The Central Bank of Honduras warned that it assumes no responsibility for such transactions and cannot guarantee any of them.
