The Department of the Treasury's Office of Foreign Assets
Control (OFAC) has amended the Cuban Assets Control Regulations
(CACR) (the CACR Amendments).
According to Treasury Secretary Jacob J. Lew, the
amendments:
build on the actions of the last
15 months as we continue to break down economic barriers, empower
the Cuban people and advance their financial freedoms, and chart a
new course in U.S.-Cuba relations... by facilitating travel for
additional Americans looking to engage with Cubans; allowing Cuban
citizens to earn a salary in the United States; and expanding
access to the U.S. financial system as well as trade and commercial
opportunities.
The Department of Commerce's Bureau of Industry and Security
(BIS) also has amended the Export Administration
Regulations (EAR) to reflect this continuing
policy shift.
