The U.S. loses $200 billion each year due to remittances in economic conflict.
The recent choice by the State Department to halt visa processing for citizens from over 75 countries, including Somalia, Iran, and Russia, indicates a shift in Washington’s perspective. There’s a growing recognition that mass migration does not just represent a humanitarian challenge. It intertwines deeply with national security, economic stability, and the capacity of the […]
Stablecoins Enter Remittances as Zepz Teams Up with Western Union and MoneyGram in Wallet Competition
Zepz Introduces Stablecoin Wallet Amid Growing Competition in Money Transfers With the rise of stablecoin transfers, leading money transfer companies are stepping up to embrace newer trends in cross-border payments. Zepz, the parent company of WorldRemit and Sendwave, has recently launched its own cryptocurrency wallet focused on stablecoin services for its customers. It seems that […]
Republican lawmakers aim to increase the suggested tax on remittances following a warning from Mexico.
Republican lawmakers are advocating for substantial increases to proposed new taxes on money sent back home by immigrants, prompted by remarks from the Mexican president and their desire to return to their families. A key piece of legislation moving through the Senate includes a 3.5% tax on “remittances,” which refers to funds transferred by non-citizens […]
Remittances to Mexico Set to Fall to Their Lowest Level in Over Ten Years
New measures at the US-Mexico border, increased national deportation efforts, and a surge in ICE worksite enforcement may have contributed to a decline of over $250 million in remittances sent to Mexico in April. Banco de Mexico reports that this represents the steepest drop in 12 years. A recent report from Banxico.org, which monitors remittances, […]
Trump’s “One Big Beautiful Bill” Taxes Remittances, Major Effects for Indians
Washington: Late Sunday night, the U.S. House Budget Committee moved forward with President Donald Trump’s “One Big Beautiful Bill Act.” This proposed legislation aims to impose a 5% tax on all international remittances sent by non-U.S. citizens, which includes non-immigrant visa holders like those on H-1B visas and green card holders. If the bill is […]
Nicaragua Breaks Record for Remittances Sent from U.S.
Nicaragua’s national newspaper La Prensa report The government said on Wednesday that remittances from the United States had hit a record high. Nicaragua has seen a surge in U.S. remittances sent by Nicaraguans abroad to relatives and friends back home, allowing the communist regime to fund the crackdown on dissent and collaborate with rogue regimes […]
Nicaragua Sees Nearly $1 Billion in Remittances from the U.S. in 3 Months
Communist dictatorship Nicaragua saw a nearly 12% increase in remittances sent to the country by migrants in the first quarter of 2024. Some sources say it is primarily driven by remittances from the United States. report Published in a Nicaraguan newspaper la prensa on sunday. According to statistics from the Central Bank of Nicaragua (BCN), […]