These measures aim to encourage the public to transact their FX needs more with banks. Briefly, the recent liberalization involves increasing the current limit of allowable FX purchase from banks without supporting documentation by as much as 4 times for individuals and 8 times for corporations, and allowing payments in FX for certain transactions between residents, among other measures.
Richard H Clarida: US economic outlook and monetary policy Speech by Mr Richard H Clarida, Vice Chair of the Board of Governors of the Federal Reserve System, at the 2021 Institute of International Finance Annual Membership Meeting: Sustainable Economic Growth and Financial Stability in a Diverging, Decarbonizing, Digitizing, Indebted World, Washington, D.C. (via webcast), 12 October 2021.