Stablecoin issuer / redeemer in Honduras

Comunicado del Banco Central de Honduras (BCH) - 12 de enero de 2022:

The BCH's communiqué explicitly states that cryptocurrencies (which include stablecoins by definition) are not legal tender in Honduras and are not backed by the BCH.

The communiqué emphasizes that financial operations with these assets are carried out "at the risk of those who perform them."

None. Since stablecoins are not regulated or recognized within the formal financial system, there are no prescribed reserve requirements for issuers by the Honduran authorities. Any reserves held by a stablecoin issuer operating in or serving Honduran users would be entirely at the issuer's discretion and subject to their own internal policies, not Honduran law.

None. There is no specific licensing regime for stablecoin issuers in Honduras. Given the BCH's stance, any entity seeking to issue or operate with stablecoins would do so outside the regulated financial system, as regulated financial institutions are prohibited from engaging with them.

No guaranteed redemption rights under Honduran law. As stablecoins are not regulated, there are no legal guarantees or frameworks in place to enforce redemption rights for holders against issuers within Honduras. Redemption would depend solely on the terms and conditions set by the stablecoin issuer and their ability to honor those terms.

Ley Contra el Lavado de Activos (Law Against Money Laundering) – Decreto No. 144-2014.

This law establishes the framework for preventing, detecting, and punishing money laundering and financing of terrorism in Honduras.

It defines "reporting entities" (sujetos obligados) which primarily include banks, financial institutions, insurance companies, and other specified entities, and obliges them to implement AML/CFT measures.

Identification and Verification:

For Individuals: Obtaining and verifying full legal name, date of birth, residential address, nationality, and a unique identification number (e.g., national ID card, passport). Verification should involve reliable, independent source documents, data, or information.

For Legal Entities: Obtaining and verifying legal name, legal form, address, proof of incorporation/existence, names of directors and beneficial owners (UBOs), and the legal representative's identification.

Ongoing Monitoring: Continuously monitoring transactions and activities throughout the business relationship to ensure consistency with the customer's profile and source of funds.

Risk Assessment: Implementing a risk-based approach to CDD, applying enhanced due diligence (EDD) for higher-risk customers (e.g., Politically Exposed Persons - PEPs, customers from high-risk jurisdictions, complex structures) and simplified due diligence (SDD) for lower-risk ones.

Beneficial Ownership: Identifying and verifying the beneficial owners of legal persons and arrangements.

Sanctions Screening: Screening customers against national and international sanctions lists.

Reporting Obligation: Report any transaction or attempted transaction, regardless of amount, where there are reasonable grounds to suspect money laundering or terrorism financing.

No Tipping-Off: Prohibits disclosing to the customer or third parties that an STR has been or will be filed.

CDD Records: Copies of identification documents, verification data, and any other information obtained during the CDD process.

Transaction Records: Details of all transactions, including amounts, types of assets, dates, and parties involved (including originating and beneficiary information, as per FATF Travel Rule principles, even if not explicitly legislated for VASPs in Honduras).

Retention Period: Typically, records must be kept for a minimum of five (5) years after the business relationship has ended or after an occasional transaction has taken place.

Unidad de Inteligencia Financiera (UIF) – Financial Intelligence Unit:

Banco Central de Honduras (BCH) – Central Bank of Honduras:

Comisión Nacional de Bancos y Seguros (CNBS) – National Commission of Banks and Insurance:

Banco Central de Honduras - Comunicados de Prensa (Press Releases): The BCH frequently publishes statements regarding cryptocurrencies. A prominent one from March 2022 reiterated that crypto assets are not regulated and carry significant risks. While a direct, permalinked communiqué specifically on custody is not available, their general stance is clear. You can monitor their official news section for updates:

It is highly probable that traditional financial institutions (banks, fiduciaries) licensed by the CNBS are prohibited from offering direct crypto custody services due to the BCH's warnings and the lack of a legal framework.

No Specific Crypto Capital Gains Tax: Honduras does not have a distinct capital gains tax regime specifically for cryptocurrencies.

General Capital Gains: Honduras's income tax law (Ley del Impuesto Sobre la Renta) generally treats capital gains from the sale of assets (like real estate or certain securities) as part of ordinary income for businesses. For individuals, there are specific provisions for certain capital gains, but crypto is not explicitly listed.

No Crypto-Specific Reporting: There are currently no specific reporting requirements tailored for cryptocurrency holdings or transactions in Honduras.