As new U.S. government measures that impose restrictions on remittances to Cuba becomes effective after November 22, Western Union, which has been operating in the island nation since 1999, will close shop. The new rule, which was published on October 27, gave Western Union 30 days to implement new restrictions. The new rule is likely to increase the appeal of crypto assets as Cubans are now expected to find a suitable alternative in a very short space of time. Targeted Sanctions At the time of the initial U.S. government announcement, the global remittances giant had promised to find a solution for its Cuban customers. However, in a later update on November 13, Western Union said it was unable to “find a solution in this limited timeframe.” For its part, the U.S. government says remittances to Cuba can still flow, but “not through the hands of the Cuban military, which uses those funds to oppress the Cuban people and to fund Cuba’s interference in Venezuela.” Accordi...