Bad news for Cubans, good news for crypto.
"Western Union closed its 407 locations across Cuba on Monday, a sanctions-driven move that will leave thousands bereft of remittances on an island that depends heavily on them — or force them to use less reliable ways to bring in money.
The closure of offices that have operated for more than 20 years in Cuba resulted from a barrage of sanctions that the administration of U.S. President Donald Trump imposed while courting conservative Cuban-American voters in Florida ahead of the Nov. 3 election.
“The problem is not the closure of Western Union, but that Western Union is practically the only U.S.-to-Cuba provider of remittance payments,” said Manuel Orozco, director of the Center for Migration and Economic Stabilization at Creative Associates International, a development-oriented advisory firm in Washington, D.C. “The impact will be felt.”"
"Western Union closed its 407 locations across Cuba on Monday, a sanctions-driven move that will leave thousands bereft of remittances on an island that depends heavily on them — or force them to use less reliable ways to bring in money.
The closure of offices that have operated for more than 20 years in Cuba resulted from a barrage of sanctions that the administration of U.S. President Donald Trump imposed while courting conservative Cuban-American voters in Florida ahead of the Nov. 3 election.
“The problem is not the closure of Western Union, but that Western Union is practically the only U.S.-to-Cuba provider of remittance payments,” said Manuel Orozco, director of the Center for Migration and Economic Stabilization at Creative Associates International, a development-oriented advisory firm in Washington, D.C. “The impact will be felt.”"