U.S. Treasury Amends Regulations to Support Cuban Entrepreneurs, Small Businesses, and Promote Internet Freedom

May 28, 2024, 02:24 PM

The U.S. Treasury Department has announced amendments to regulations aimed at increasing support for the Cuban people and independent private sector entrepreneurs. These changes will allow Cuban nationals to open, maintain, and remotely use U.S. bank accounts for authorized or exempt transactions. The regulation updates are also designed to promote internet freedom in Cuba. This move is part of a broader effort by the Biden administration to support economic and democratic freedoms for the Cuban people. The measures include more U.S. financial support for small private businesses in Cuba and come after months of delay.