Yes, under certain circumstances. Persons subject to U.S. jurisdiction may engage in transactions in U.S. dollars in Cuba or with Cuban nationals with respect to activity that is authorized pursuant to the Cuban Assets Control Regulations (CACR). For example, payments for telecommunications services in Cuba provided pursuant to 31 CFR § 515.542 may be provided in U.S. dollars. Further, the use of U.S. dollars for transactions that are exempt from the prohibitions of, or authorized by, the CACR is also allowed. For example, payments related to the importation or exportation of informational materials as defined in 31 CFR § 515.332, such as books or musical recordings, may be made in U.S. dollars.
Please note that, effective September 30, 2026, banking institutions subject to U.S. jurisdiction are no longer authorized to process transactions in which Cuba or a Cuban national has an interest that originate and terminate outside the United States, even where neither the originator nor the beneficiary is a person subject to U.S. jurisdiction (i.e., "U-turn" transactions). Such banking institutions are now only authorized to reject (vice block) these transactions.