Guatemala remains on the sidelines of cryptocurrencies while the United States is actively incorporating them into its strategy to dominate the technology industry. In this article, we analyze the different positions regarding the rise of digital money.
Blockchain technology is undoubtedly redefining the global financial landscape. However, not all countries are approaching this revolution with the same strategy. While some nations seek to lead innovation in this sector through cryptocurrencies and digital assets, others prefer to maintain a more conservative approach.
This is the case of Guatemala and the United States, two countries that have recently adopted completely opposite positions regarding new forms of digital money, including cryptocurrencies and CBDCs, creating an interesting contrast that reflects the diversity of approaches in the 2.0 economy.
Guatemala takes a cautious and distant approach towards cryptocurrencies
Earlier this week, the Central Bank of Guatemala made it very clear that cryptocurrencies are not legal assets in the country and that its stance is in favor of bank digital currencies, or CBDCs.
So, although the nation has had considerable openness to cryptocurrencies in recent years, its central bank does not consider or recognize them as a legal means of payment in the country.
En statements Officials said that the president of the Bank of Guatemala, Álvaro González Ricci, reaffirmed that crypto assets are outside its regulatory radar, arguing a lack of control and a constant concern about the volatility of these digital assets in the market. Experts said that the central bank's stance reflects a cautious strategy, in which it prefers to maintain control over monetary policy and avoid the uncertainty that, in its opinion, comes with the adoption of decentralized cryptocurrencies.
In addition, the Bank of Guatemala has recognized the advancement of CBDCs in the world, suggesting that such digital currencies are a good option for the country's economy. Thus, although the institution has not announced plans to move forward with the creation of its own digital currency, its recognition of CBDCs shows an interest in the underlying blockchain technology, but in a controlled and centralized form.
In this approach, it can be seen that the central bank's main priority is to maintain the traditional framework of finance, avoiding decentralized digital currencies that could challenge monetary policy control. Thus, Guatemala remains on the sidelines of the digital wave, observing from a distance how other countries explore the opportunities and challenges of cryptocurrencies.
The United States is betting on global leadership in the crypto era
The current US stance is in sharp contrast to that of Guatemala. Instead of rejecting cryptocurrencies, the US government, led by Donald Trump, has opted to an active strategy that seeks to position the country as a leader in the crypto industryA key element of this strategy is the support for decentralized cryptocurrencies, such as Bitcoin, and dollar-pegged stablecoins. These digital currencies, whose value is linked to the US dollar, are seen as an instrument that can strengthen the national currency and maintain its hegemony in the global financial system.
In addition, the United States has shown a Strong resistance to the idea of creating a CBDC. Contrary to what other countries in the world do, US authorities have expressed concern about the risks that a CBDC could entail, including the possible Violation of privacy and excessive concentration of power in the hands of the government.
The US government's stance reflects a preference for a decentralized market and a strong commitment to private sector-driven innovation. Indeed, at the same time as it rejects CBDCs, the United States is promoting a regulatory framework that encourages the development of the crypto industry, seeking to take advantage of its full economic and technological potential. In this way, the United States not only accepts the rise of digital money, but seeks to lead it.
On January 23, President Trump signed an executive order that marked a turning point in the United States’ digital strategy. With this measure, the Trump administration seeks to consolidate the nation’s technological leadership, urging federal agencies to investigate and evaluate the risks and benefits of blockchain technology and digital assets.
The signing of this executive order is a clear intention not to be left behind in the midst of the growing adoption of cryptocurrencies at a global level. The guidelines established in it prepare the ground for future political and regulatory actions that could capitalize on the potential of cryptocurrencies and consolidate the financial and technological dominance of the United States in the future.
The possible consequences for Guatemala
The different positions adopted by Guatemala and the United States reflect two very different visions on the role of digital money in the global economy.
On the one hand, Guatemala, by opting for a cautious approach, seeks to protect its economy from the risks associated with volatility and lack of regulation in the crypto space. This approach may offer short-term stability, but it could also lead to missing out on the opportunities offered by financial innovation and the leadership of the technology sector.
On the other hand, the United States, with its proactive strategy, seeks to lead the digital revolution, attracting investments and creating a favorable environment for the development of new technologies.
