Paraguayan President Santiago Peña resigned after digital lender Ueno Bank collapsed, leaving nearly three million customers unable to access their accounts, representing more than 60% of the country’s adults. The lower house then voted unanimously, 78-0, to impeach Peña and sent the charges to the Senate as Vice President Pedro Alliana prepared to take over. Regulators placed Ueno into resolution after finding that its solvency ratio had fallen below half the legal minimum; the bank held roughly $800 million in public deposits, including pension and health funds. The central bank guarantees up to 228.3 million guaraníes per depositor, approximately $36,000, and says the failure is an isolated case. The crisis illustrates Bitcoin’s self-custody argument, but that approach carries separate risks, including lost private keys, theft and price volatility.
Source: Read the original article
