Cubans are using cryptocurrencies such as bitcoin to circumvent US sanctions

According to foreign media, Cuba's Internet connection and the popularity of smartphones paved the way for cryptocurrency-related transactions and provided another option for citizens of the country to bypass US sanctions. A local businessman named Sanchez is using Bitcoin and other mainstream cryptocurrencies to buy spare parts for his mobile phone repair shop. Sanchez said: "(Cryptographic currency) really opened the door for us." Alex Sobrino, the founder of Telegram Channel, said that at least 10,000 people in Cuba use cryptocurrencies: "We are using cryptocurrencies to recharge mobile phones and shop online. Some people even use it to book hotel rooms.” However, although current conditions force Cubans to use cryptocurrencies, these digital assets are unlikely to be used as a legitimate payment method. The current cryptocurrency is still in the legal grey area of ​​the country.