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Paraguay's President Santiago Peña has been impeached and placed under house arrest after the collapse of a digital bank with links to his private business interests.

Peña was arrested on Friday minutes after lawmakers, including from his own party, unanimously voted to remove him from office due to a widening crisis triggered by the collapse of Ueno Bank earlier this week.

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The demise of the digital bank has left more than half of Paraguay's population without access to their savings after it was seized by Paraguay's central bank.

An estimated three million depositors remain unable to access their savings and pensions prompting widespread protests particularly in the capital, Asuncin.

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TRM said:

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They worked quickly to remove him. I expect Warren to try to regulate digital banks more strictly now that she'll be head of the banking committee and she'll use this as an example even though they're subject to the same federal/state regulations.

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TRM said:

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Peña was arrested on Friday minutes after lawmakers, including from his own party, unanimously voted to remove him from office due to a widening crisis triggered by the collapse of Ueno Bank earlier this week.

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BigRobSA said:

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TRM said:

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Peña was arrested on Friday minutes after lawmakers, including from his own party, unanimously voted to remove him from office due to a widening crisis triggered by the collapse of Ueno Bank earlier this week.

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Why don't they just throw down a reverse, or a wild card?

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Kashchei said:

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TRM said:

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They worked quickly to remove him. I expect Warren to try to regulate digital banks more strictly now that she'll be head of the banking committee and she'll use this as an example even though they're subject to the same federal/state regulations.

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Digital wampum?

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