According to PANews, the National Bank and Securities Commission of Honduras has banned the country's financial system from trading cryptocurrencies and similar virtual assets, citing risks of fraud and money laundering. The decision, which takes effect immediately, was announced on Friday and is dated for next Monday. The resolution prohibits institutions under its supervision from 'maintaining, investing, intermediating, or trading cryptocurrencies, crypto assets, virtual currencies, tokens, or any similar virtual assets not issued or authorized by the central bank.'
Honduran law currently does not regulate crypto assets, although platforms for trading them do operate in the country. The regulator noted that many of these platforms are registered in multiple jurisdictions, making them beyond the control of Honduran law and potentially involved in 'fraud, money laundering, and terrorist financing activities.' The Central Bank of Honduras warned that it is not responsible for such transactions and cannot guarantee any of them.
In January, the Prospera economic zone in Honduras recognized Bitcoin as a unit of account. It is currently unclear what impact the new policy will have on this economic zone.