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Does anyone know what is required to establish an exchange that accepts Guyana $ as payment for Bitcoins?

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You need a bank account in Guyana for people to deposit money. Then you need a server to run the exchange. For the software you can check the answer to this question: Is there an open source Bitcoin exchange?

If you don't want to run you own server you can look at this: http://www.buttercoin.com/#/

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