Researcher claims 3 million Paraguay bank accounts frozen, pushes XRP self-custody

Edo Farina, a well-known analyst focused on banks and cryptocurrency, has claimed that more than 3 million Paraguay residents lost access to their digital bank accounts overnight after the country’s central bank allegedly took over Ueno, a digital banking platform. Farina raised these concerns in a widely shared video, using the reported incident to highlight what he considers the advantages of holding assets on the XRP Ledger and advocating for personal crypto self-custody. Farina alleged that the Banco Central del Paraguay, the country’s monetary authority, intervened in the operations of Ueno, which serves customers through digital banking services.

Source: CoinTurk News