Guatemala Central Bank Weighs Launch of its Own Digital Currency

June 24, 2021, 6:08 PM

Guatemala is studying plans to launch its own digital currency, but in the meantime citizens should beware of using cyptocurrencies not backed by governments, the central bank said Thursday.

“There is a big difference between a digital currency issued by a central bank and a cryptocurrency issued by private actors that doesn’t have government backing or oversight,” Central Bank President Sergio Recinos said in a press conference.

Central bank digital currencies are far removed from their crypto counterparts, such as Bitcoin and Ethereum, which are valued for their independence from monetary authorities. Guatemala’s digital currency would simply be an offshoot ...

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