Embracing Cryptos to Deal With Issues and Restrictions
Trying to adequately address economic and financial issues, Caribbean governments and businesses are increasingly turning towards cryptocurrencies like bitcoin. The region has been experiencing sluggish growth and high debt rates for some time. In recent years, large U.S. banks have been withdrawing capital from the Caribbean markets. Their “de-risking” policies have created a deficit of banking services. Local banks and authorities have been accused of aiding money-laundering practices and are dealing with restricted access to foreign exchange reserves. All this has affected Caribbean economies, which are heavily dependent on tourism and international trade.
https://news.bitcoin.com/caribbean-nations-introduce-crypto-payments-in-the-travel-industry/