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Guatemala Takes First Step Toward Crypto Regulation—Will Banks Fight Back?
Guatemala Takes First Step Toward Crypto Regulation—Will Banks Fight Back?
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Lawmakers in Guatemala just dropped a cryptocurrency bill draft—marking the country’s first serious move to regulate digital assets. No details yet, but the proposal could shake up everything from remittances to banking monopolies.
Why it matters: With 12% of GDP coming from remittances (mostly from the US), crypto could slash fees—or trigger a lobbying bloodbath from traditional finance. After all, nothing unites banks faster than a threat to their 10% wire transfer vig.
What’s next: Watch for backlash from Guatemala’s financial old guard. Because when has a disruptive technology ever been welcomed by institutions charging $30 for ’international processing’?
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