U.S. targets Bitcoin transactions in Cuba and other blacklisted nations

The U.S. Treasury Department on Thursday announced the following: BitPay, Inc. (“BitPay”), a private company based in Atlanta, Georgia, that offers a payment processing solution for merchants to accept digital currency as payment for goods and services, has agreed to remit $507,375 to settle its potential civil liability for 2,102 apparent violations of multiple sanctions … Read more

U.S. tightens Cuba sanctions once again

New Treasury Department regulations will limit remittances to Cuba to no more than $4,000 per year per person. Treasury’s Office of Foreign Asset Control, or OFAC, enforces U.S. sanctions against Cuba. The new rules , scheduled to be published on Sept. 9, state: OFAC is amending § 515.570(a), which authorizes family remittances, to place a … Read more

Lawyers wrangle over “illegal trafficking” of property

Lawyers for a Jacksonville family whose businesses were confiscated in Cuba before the revolution urged a federal judge today not to dismiss their lawsuit against Carnival Cruise Lines. Javier Garcia-Bengochea, a Jacksonville neurosurgeon, sued the cruise company on May 2, saying it was “illegally trafficking” in the waterfront properties that his family owned in Santiago … Read more

One-two punch against Expedia

On June 18, a Florida family sued trivago, a German travel services company, for “unlawful trafficking” in a hotel they owned before the Cuban revolution. The family of Antonio Mata y Alvarez says trivago, which is spelled with a lowercase t, benefited from the Hotel San Carlos in Cienfuegos and “scores of properties like it.” … Read more

Inspector General: Cuba sanctions tough enough?

The Office of Inspector General at the Treasury Department this year plans to investigate how well the Office of Foreign Asset Control, or OFAC, is enforcing Trump administration sanctions against Cuba. The OIG reported: Since 1960, the United States has maintained an embargo restricting trade, travel, and financial transactions with Cuba. This embargo comprises the … Read more