Honduras regulator bans banks from trading crypto
The Honduras banking regulator has implemented immediate measures prohibiting institutions under its authority from engaging in cryptocurrency trading . In a resolution, the National Banking and Securities Commission or CNBS noted that the move takes effect immediately and aims to mitigate the risks of fraud and money laundering, Reuters reported on February 16. Entities under its mandate are instructed not to ‘maintain, invest, intermediate, or trade in cryptocurrencies, crypto-assets, virtual currencies, tokens, or similar virtual assets not issued or authorized by the central bank’. Notably, this ban was imposed despite the absence of formal legislation regulating cryptocurrencies in the Central American country. Picked for you Avalanche sell-off alert: Nearly $400M of unlocked AVAX 16 hours ago Funds locked in DeFi surged 100% in 4 months, reaching 2-year high 18 hours ago 3 cryptocurrencies to reach $100 billion market cap in 202...