"Biden Eases Banking Restrictions to Boost Cuban Small Businesses"

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Source: NBC News
"Biden Eases Banking Restrictions to Boost Cuban Small Businesses"
Photo: NBC News
TL;DR Summary

The U.S. Treasury Department announced regulatory changes to support Cuba's private sector by allowing Cuban entrepreneurs to open U.S. bank accounts and access U.S. internet-based services. These measures aim to bolster small businesses on the island while avoiding benefits to the Cuban government. The move fulfills a Biden administration pledge to support Cuban entrepreneurs despite the ongoing U.S. embargo. Critics argue the changes do not address broader issues and may have political implications.

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