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Cuba’s central bank now recognizes cryptocurrencies such as bitcoin

Cuba will now recognize and regulate cryptocurrencies such as bitcoin, citing “reasons of socioeconomic interest.” Resolution 215, which was published Thursday in the state-run Official Gazette, says the central bank will set new rules for how to deal with digital currencies. Commercial providers of related services will now need… Read More

U.S. imposes sanctions on three Cuban officials over crackdown on protests

The U.S. Treasury Department said on Thursday it had imposed sanctions on three Cuban officials it said were involved in the suppression of protests on the island that began on July 11. In a statement, the department said it took the action under the Global Magnitsky Act program, which freezes… Read More

U.S. imposes sanctions on Cuban officials, military unit over violence

The U.S. Treasury Department said on Friday it was imposing sanctions on two Cuban Ministry of Interior officials and a military unit over the government’s crackdown on protesters last month. The department said it was sanctioning Romarico Vidal Sotomayor Garcia and Pedro Orlando Martinez Fernandez and the Tropas de Prevencion… Read More
2nd August 2021
AP — U.S. President Joe Biden will meet with Cuban-American leaders Friday to discuss the recent social protests in Cuba, the possibility of new sanctions on its government and options for providing internet access to the island’s population. The afternoon White House meeting, previewed for The Associated… Read More
25th July 2021
U.S. President Joe Biden said on Thursday that new U.S. sanctions on Cuba target those responsible for a crackdown on protesters and that they are only the first step in the American response. “I unequivocally condemn the mass detentions and sham trials that are unjustly sentencing to prison those who… Read More
22nd July 2021
Washington will apply “hard-hitting sanctions” on Cuban officials responsible for cracking down on demonstrations that rattled the communist island earlier this month, a U.S. State Department official said Wednesday. In a series of tweets, Julie Chung, the acting assistant secretary for the U.S. Department of State’s Bureau of Western Hemisphere… Read More
18th June 2021
By Ashley Pechinksi, InSight Crime, 15 June 2021 InSight Crime — Though Cuba’s illegal animal trade rarely makes headlines, its government has quietly raised alarms with a new wildlife trafficking law. People and businesses found trafficking wildlife now face fines of up to 1,500 Cuban pesos… Read More
15th March 2021
By Katya Bleszynska, InSight Crime, 9 March 2021 InSight Crime — A new investigative report shows Ponzi and pyramid schemes have proliferated across Caribbean countries during the pandemic, and authorities have been unable to keep up. The report — by the Caribbean Investigative Journalism Network (CIJN) —… Read More
15th February 2021
If you’ve wondered how the Cuban economy has survived under one-party rule despite 59 years of a trade embargo imposed by its northern neighbor, a small yet wealthy Western European country offers a glimpse how. To stay afloat in difficult times, Cuba has relied on the same mechanism used by… Read More
18th January 2021
The Trump administration sanctioned Cuba’s interior minister and the agency overseeing the island’s state security apparatus Friday in a final push to punish the island’s government before leaving office. The U.S. Treasury Department accused Brigadier General Lázaro Alberto Álvarez Casas of “serious human rights abuses” in making the designation. Also… Read More
12th January 2021
The Trump administration on Monday announced it was returning Cuba to the U.S. list of state sponsors of terrorism, a move that could complicate any efforts by the incoming Biden administration to revive Obama-era detente with Havana. Just nine days before Republican President Donald Trump leaves office, Secretary of State… Read More
4th January 2021
The U.S. State Department on Friday added a Cuban commercial bank to its restricted list, saying it will prevent the Cuban military from benefiting from financial transactions. The State Department placed Banco Financiero International S.A. in the Cuba Restricted List starting in early January, calling it “a Cuban military-controlled commercial… Read More
31st December 2020
The U.S. Treasury has settled with BitGo over charges that it facilitated users in sanctioned areas to transact using its crypto wallet services between 2015 and 2019. BitGo, an institutional crypto custodian service and wallet operator, did not do due diligence in blocking wallet users based in Crimea, Cuba, Iran,… Read More