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I'm not an economist, but I'm curious as to what may happen to the local banking system if all the remittances, (23% of the GDP), no longer enter the bank's acc
by el-salvador 5y ago
I'm not an economist, but I'm curious as to what may happen to the local banking system if all the remittances, (23% of the GDP), no longer enter the bank's accounts in dollars (or cash). And instead remains in crypto.
- clintonb 5y agoThe answer depends on how many individuals had bank accounts to begin with. I suspect folks relying on remittances may not have been major account holders. Businesses will continue using the banking system, so those banks servicing them will be fine.