The Biden administration will allow Cuba's independent entrepreneurs to remotely open bank accounts in the United States, aiming to support the private sector on the island, The Miami Herald reported. The policy change comes after months of delays due to congressional objections.
The Treasury Department modified the long-standing embargo, enabling private business owners to open U.S. bank accounts and conduct authorized transactions online. Imposed in the 1960s, the embargo severed Cuba from the U.S. banking system.
