The United States announced that it allows as of this Tuesday Cuban entrepreneurs to open and use U.S. bank accounts through the Internet to carry out financial transactions from the island.
The Department of the Treasury explained in a statement that this announcement seeks to “promote internet freedom in Cuba, support independent Cuban private sector entrepreneurs, and expand access to certain financial services for the Cuban people.”
Until now, the Cubans who visit the United States could open bank accounts there but could not use them once they returned to Cuba due to the embargo on the island.
The Treasury explained that, as of May 28, Cuban entrepreneurs are authorized to “including through online payment platforms, to conduct authorized or exempt transactions” from the United States, Cuba, or any other country in the world.
The United States also updated its definition of a Cuban entrepreneur to include not only self-employed workers but also cooperatives and small private companies of up to 100 employees.
Based on that definition, the officials of the Cuban government and members of the Communist Party of Cuba who the United States sanctions were excluded.
Likewise, the Joe Biden administration updated the Internet services allowed in Cuba, including social media platforms, video conferencing, e-gaming, and web maps.
In addition, it authorized the export of Cuban-origin software from the United States to other countries so that Cuban entrepreneurs could offer these services through the global mobile phone application stores.
