There hasn't been a lot of news to report on the Yoan Moncada situation over the last month or so. He held his open workout back in November and was expected to begin private workouts this week, but so far there haven't been any reports confirming that a workout took place.
The one constant in the Moncada story since his name surfaced last year has been the pack-leading presence of the Yankees. They were out in full force for his November workout, they've been named as one of the teams most likely to sign him since the beginning, and per this report by Kiley McDaniel, they're now one of the "heavy favorites" to sign him. The Yanks have been hesitant to seriously engage with many of the recent star Cuban free agents. That doesn't appear to be the case with Moncada.
Remember that Moncada is subject to the new international free agent signing rules because of his age (19). The Yankees are already well over their 2014-2015 spending limit, but because of how the rules work they would be able to sign Moncada and count his bonus (and the associated penalty) towards 2014-2015 as long as they sign him before June 15th. If they don't, he would count towards the 2015-2016 limit and the Yankees would be unable to offer him more than $300,000 as a result of the penalties for exceeding this year's total.
That deadline is surely influencing how the Yanks are approaching Moncada, so hopefully the rest of the process to get him cleared to play doesn't drag on too long. 5-tool shortstop prospects don't come along every day, and the Yankees have the clear monetary advantage in adding this one.