Crypto usage has spiked in the country, with transaction volumes hitting $430 million in the year after the central bank removed restrictions in mid-2024.
Crypto usage has spiked in the country, with transaction volumes hitting $430 million in the year after the central bank removed restrictions in mid-2024. Bolivia is evaluating a framework to integrate USDT into its national payments system as a regulated alternative to the boliviano and U.S. dollar.
Crypto usage has spiked in the country, with transaction volumes hitting $430 million in the year after the central bank removed restrictions in mid-2024. Official adoption will require rigorous anti-money laundering controls because Bolivia remains on the Financial Action Task Force's grey list.
Bolivia is considering adding Tether's USDT stablecoin to its national payments system, marking another step in the country's shift from banning crypto transactions to allowing regulated digital asset use.on Monday that the government is evaluating whether USDT could circulate alongside the boliviano, the country’s fiat currency, and the U.S. dollar. The proposal remains under technical review and the government has not published implementation rules or granted the stablecoin legal-tender status, local news outlet Officials are developing a framework for banks, digital wallets and payment providers, according to Espinoza.
Any rollout would require stronger anti-money laundering controls as Bolivia remains on the Financial Action Task Force'sshows that crypto transaction volume climbed from $46.5 million in the first half of 2024 to $294 million during the same period last year. Total transaction volume rose 630% after restrictions were removed, the central bank has said.
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