Cryptocurrency in Guatemala

    Guatemala is introducing strong guidelines because many locals are showing interest in cryptocurrencies. All countries have failed to make Bitcoin and similar cryptos legal tender, but they are still gaining ground in usage. As of May 2025, a new proposal called Bill No. 6538 plans to put in place regulations for how crypto will be exchanged, stored, and used.

    Why Crypto Matters in Guatemala:

    • Over 480,000 Guatemalans are engaging with crypto despite regulatory ambiguity.
    • High remittance dependence makes stablecoins an attractive option.
    • Bill No. 6538 introduces registration, KYC, and cybersecurity rules.
    • Crypto use is expanding in commerce, freelancing, and wealth preservation.

    This article serves newcomers, Guatemalan citizens, the diaspora, freelancers, remittance recipients, investors, developers, policymakers, and crypto educators.

    Basic Scene

    Use of cryptocurrency in Guatemala has become much more common. Although in 2017 the Central Bank said cryptos are not legal tender, many people in Hong Kong still like to use Bitcoin and similar services for real-life activities.

    Common Use Cases:

    • Remittances: Families receive money via USDT or BTC, avoiding bank delays.
    • Freelancing: Guatemalans working remotely prefer crypto payments.
    • Commerce: Informal merchants and online sellers use crypto as an alternative store of value.
    • P2P Transactions: Groups on Telegram and Facebook facilitate trades.

    Notable Trends:

    • Bill No. 6538 (May 2025) introduces a path to legal crypto usage.
    • Mobile wallets and crypto cards (e.g., Bit2Me) are gaining traction.
    • Bit2Me Wallet offers debit cards and IBAN support for Guatemalans.
    • Crypto education is spreading through platforms like Bit2Me Academy.

    Overall Crypto Market

    Guatemala’s crypto market is growing organically through cross-border use, mobile access, and community-driven platforms. While exact user data is limited, the trend is consistent with broader Latin American crypto adoption.

    Key Figures (Estimates):

    • Crypto penetration: Approaching 3% of the population
    • Market revenue: Expected to cross USD 50 million by 2025
    • Primary drivers: Remittances, mobile wallets, and trading apps

    Popular Cryptocurrencies:

    • Bitcoin (BTC): The most commonly known and held coin.
    • Tether (USDT): Dominant for remittance due to price stability.
    • Ethereum (ETH): Used in freelancing and DeFi platforms.
    • Litecoin (LTC): Preferred by some for faster transactions.

    Crypto Regulation in Guatemala

    Until recently, Guatemala lacked specific crypto regulation. Bill No. 6538, introduced in May 2025, marks a turning point toward formal oversight, although the legislation is still pending final approval.

    Regulatory Timeline:

    • 2017: Bank of Guatemala clarifies that crypto is not legal tender.
    • 2025: Bill No. 6538 proposes a regulatory framework for crypto use.

    • Includes KYC, cybersecurity, fund security, and mandatory SIB registration.

    Legal Status:

    • Crypto ownership and trading: Legal
    • Crypto as payment: Not recognized as legal tender
    • Crypto platforms: Must register with the Superintendency of Banks (SIB) if bill passes

    Outlook:

    The proposed law could legalize crypto services under supervision. Entities will need to comply with due diligence, transparency, and anti-money laundering requirements. Further clarity is expected via executive regulations post-approval.

    Crypto Exchanges & Platforms in Guatemala

    With no locally licensed exchanges, Guatemalans rely on international platforms and emerging services like Bit2Me, which actively supports the region with Spanish-language onboarding and local tools.

    Most-Used Platforms:

    • Binance, Kraken, Coinbase: Used for global trading and staking.
    • Bit2Me: Offers debit cards, wallet services, and IBAN support.
    • OTC and P2P platforms: Used widely for fiat-to-crypto conversion.

    User Experience:

    • Users access exchanges via mobile and web.
    • Bit2Me allows funding via credit/debit card, bank transfer, or crypto.
    • Fast and easy exchanges drive adoption among young users.
    • Bit2Me’s customer service and academy aid newcomers.

    Cryptocurrency Wallets in Guatemala

    Wallet use is expanding quickly as more Guatemalans secure their holdings beyond exchanges. Education efforts are helping users choose between hot and cold wallets.

    Common Wallet Types:

    • Hot wallets: Trust Wallet, Bit2Me Wallet, MetaMask – convenient and DeFi-compatible.
    • Cold wallets: Ledger, Trezor – used for large or long-term storage.

    Adoption Trends:

    • Mobile-first wallet use is popular due to ease and familiarity.
    • Bit2Me’s crypto card increases wallet integration for payments.
    • Wallet backup and recovery knowledge remains limited but growing.

    Key Concerns:

    • Scam risks due to unregulated OTC trades.
    • Poor password and seed phrase management.
    • Lack of widespread education on wallet hygiene and backup.

    Crypto Taxation in Guatemala

    Crypto tax treatment is mentioned in Bill No. 6538, but no formal tax code amendments exist as of mid-2025. The upcoming law may introduce new reporting and tax obligations.

    Current Tax Situation:

    • No clear guidance on income, capital gains, or mining taxes.
    • No formal reporting requirements for crypto users.
    • Exchanges and wallets may soon be required to report transactions.

    Challenges:

    • Tax ambiguity leads to inconsistent compliance.
    • Businesses lack direction for accepting crypto or reporting holdings.
    • Once the law passes, enforcement may increase.

    Recommendation:

    Users should keep detailed transaction records and seek legal advice as new rules are implemented.

    Crypto Community & Education in Guatemala

    Crypto awareness is rising in Guatemala through informal education, online communities, and regional platforms. Tools like Bit2Me Academy and social media are expanding public knowledge.

    Crypto Awareness:

    • YouTube tutorials and social media influencers spread wallet tips.
    • Bit2Me Academy provides Spanish-language crypto learning.
    • Crypto chat groups on Telegram offer real-time advice and trade coordination.

    Events & Learning Resources:

    • Online webinars and local meetups focused on wallet use and DeFi.
    • Influencer-driven tutorials on how to use crypto cards and swap coins.
    • Media coverage and legislative developments fuel public interest.

    Key Advocates:

    • Bit2Me: Active in Latin America with crypto debit card offerings.
    • Guatemalan fintech voices: Advocating for safe and open crypto access.
    • Legal experts tracking Bill No. 6538's impact.

    Crypto’s Future in Guatemala

    Guatemala is entering a new phase of crypto adoption, driven by both public demand and pending regulation. The outcome of Bill No. 6538 could create a safer and more structured ecosystem.

    Future Growth Drivers:

    • Remittance reliance will continue to push stablecoin use.
    • New fintech tools like crypto debit cards will attract more users.
    • Youth demand for decentralized finance apps is increasing.

    Potential Government Impact:

    • If Bill No. 6538 is passed, it will bring legal clarity and investor protections.
    • The Superintendency of Banks will oversee platforms and wallets.
    • National financial education efforts may receive institutional backing.

    Tech Potential:

    • Integration of crypto with e-commerce and mobile payments.
    • Growth of regional crypto services with localized features.
    • Blockchain applications in identity, payments, and small business financing.

    Despite challenges, Guatemala’s crypto sector is positioned to grow quickly, with or without legal finalization—powered by grassroots demand and evolving financial needs.

    Frequently Asked Questions (FAQs)

    1. Is cryptocurrency and its use allowed in Guatemala?

    Specifically, both owning and trading cryptocurrency is allowed by the law, yet they are not considered a legal currency.

    2. Is it possible to use cryptocurrency to buy goods in the country?

    Crypto is not considered an official way to pay for things.

    3. Which currency is used in Guatemala as the official one?

    The national currency and the official currency for payment is the quetzal (GTQ).

    4. Are there any rules on crypto mining in Guatemala?

     At this point, there are no types of laws that restrict crypto mining in the United States.

    5. Is it the case that gains in the crypto market get taxed?

    There are no regulations at this moment, but approval of Bill No. 6538 could change that.

    6. Which places allow Guatemalans to purchase cryptocurrency?

     A number of users base their trades on Binance, Bit2Me, Kraken, and P2P platforms.

    7. Which sorts of wallets get the most use?

    Bit2Me Wallet, MetaMask, and Trust Wallet are among the wallets that people use mostly.

    8. Is it possible to trade crypto safely in Guatemala?

    As long as your wallets and online markets are safe, investing might be okay, yet scams may still occur on informal markets.

    9. Is it possible to exchange digital assets locally?

    Bit2Me is not yet officially licensed there, but it gives full support to Guatemalan users anyway.

    10. Will the regulation of cryptocurrencies be approved in the near future?

    Possibly. The legislation known as Bill No. 6538 is currently being examined by Congress and might be approved.