While in Venezuela the daily conversation continues to revolve around the official exchange rate, P2P rates, and the price of USDT, in Havana another piece of the regional economic puzzle moves. Cuban Prime Minister Manuel Marrero said that of the package of 176 economic and social reforms approved in June, 89%—that is, 158 measures—are already being carried out, supported by 197 legal regulations. This is not a minor detail for anyone who keeps an eye on how money circulates in the Caribbean.
📊 What does the Cuban package bring
The reforms are organized into 23 thematic axes and aim to decentralize competencies to municipalities: administrative management, personnel, budgeting, financial matters, local taxes, the environment, and projects. They also address more sensitive areas: boosting agriculture, foreign trade, private and foreign investment, the real estate sector, and above all, decision-making within state-owned companies.
Marrero insisted that transforming a state-owned company into a mercantile company, by shares or participations, is not the same as privatization. According to his explanation, the goal is to separate ownership from management, attract private capital—national or foreign—and achieve greater efficiency, competitiveness, and export capacity. The framework that enables these partnerships is Decree Law 114, which allows alliances between state entities and non-state actors.
The situation is not helping: Cuba has accumulated six years of deep crisis, with a contraction in GDP close to 15% according to official figures, worsened since January by the oil blockade and additional sanctions by the United States under the so-called maximum pressure policy. That is the real reason why Havana is moving.
📈 The detail that the crypto ecosystem is watching
There is one point in the package that deserves special attention: authorization for private capital to participate in financial activity. Read in regional terms, that means opening a window for non-state actors to operate financial services within the island, something that until recently was exclusive territory of the state apparatus and traditional banking.
Cuba already has a regulatory framework for virtual asset service providers since 2021, managed by its central bank, although implementation has been slow and with few license holders. If the financial reforms move forward, it is reasonable to expect that this ecosystem will no longer be a niche topic and will enter the mainstream conversation.
🔎 Why this matters to a Venezuelan who buys USDT
Venezuela and Cuba share an uncomfortable feature: both economies live with controls, exchange-rate gaps, and a population that learned to solve things with cash dollars, remittances, and stablecoins. In Cuba, the use of USDT and other cryptocurrencies grew in response to restrictions on international banking services and to remittances that no longer arrive through traditional channels.
If Havana opens the door to private capital in finance, the likely scenario is a more organized P2P market, with more liquidity and possibly digital exchange houses operating under license. For the Venezuelan user, that translates into something concrete: more depth in the USDT/CUP and USDT/VES pairs, although in separate markets, and more competition among platforms that today compete for the same kind of client: someone who needs digital dollars to save, receive payments, or send money.
💰 The Venezuelan mirror
For years, Venezuela has been testing similar formulas with different names: partial opening, de facto dollarization, loosening controls, and a banking system that juggles between the BCV and the reality of the parallel market. The Cuban lesson, seen from here, is that no reform changes the dollar price overnight. The measures take time, and while they’re taking effect, people keep solving things outside the system: P2P, cash, Zelle, Binance, and any bridge available.
When Marrero says there will be more supply and that this will lower prices little by little, he is describing a process of months, not weeks. We’ve heard that same message in Venezuela several times. The difference here is that the parallel market learned to anticipate announcements long before results arrived.
🛡️ What the P2P market should be watching
📖 Read the full article: https://pitbullchain.com/noticias/cuba-aplica-el-89-de-sus-reformas-lecciones-para-venezuela-y-el-usdt-426115
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