1273. How does the September 30, 2026 amendment to the Cuban Assets Control Regulations (CACR) affect previous authorizations related to Cuban private sector entrepreneurs?

Effective September 30, 2026, OFAC amended § 515.584(h) to remove the authorization for banking institutions subject to U.S. jurisdiction to open and maintain accounts solely in the name of a Cuban national who is an independent private sector entrepreneur, as defined in § 515.340, for the purposes of conducting certain transactions authorized or exempt under the CACR. Unless separately authorized, banking institutions subject to U.S. jurisdiction are required to immediately block these funds and accounts, and will require a specific license from OFAC to unblock any such accounts or funds.