Summary
- Bolivia is evaluating the possibility of integrating USDT with other payment methods in the country.
- The country lifted a ban on cryptocurrency transactions in 2024 and continues to develop regulations for crypto assets.
- From July 2024 to June 2025, Bolivia recorded over $14.8 billion in cryptocurrency transaction volumes.
Bolivia is looking into the inclusion of Tether’s USDT, a dollar-pegged stablecoin, into its payment system as the economy shows signs of stabilization, as reported by local news outlet La Razón.
This information came from a briefing by Bolivia’s Minister of Economy, José Gabriel Espinoza Yáñez, who emphasized the need for caution during the evaluation process.
“It’s important to remember that Bolivia is on the [Financial Action Task Force] gray list, which is a consequence of past issues, and we must carefully assess these crypto assets,” he stated during the press conference, according to the publication.
“We are in the process of creating regulations to manage their use for those who have adopted them, often out of necessity, and are capable of using them correctly,” he added.
The FATF black and gray lists highlight countries with weaknesses in combating money laundering and terrorist financing. Bolivia, being on the gray list, is subject to increased scrutiny by the FATF but is recognized for its commitment to address these issues promptly.
“The Bolivian economy today is significantly different from what we encountered eight months ago,” Espinoza Yáñez remarked. “The measures we have put in place are part of a strategy developed before we assumed office, and the results are starting to affirm that strategy.”
After lifting a ban on cryptocurrency transactions in 2024, Bolivia contributed to the remarkable growth of crypto in Latin America, which saw nearly $1.5 trillion in transactions over a three-year period ending in June 2025, according to data from Chainalysis.
From July 2024 to June 2025, Bolivia ranked eighth among Latin American countries with $14.8 billion in transactions, surpassing nations like Ecuador and Puerto Rico.
In October 2024, Banco Bisa, one of the largest banks in the country, launched its crypto custody services, enabling customers to store and transfer USDT, though it does not support other cryptocurrencies.
“USDT is increasingly becoming a fundamental asset in various emerging market economies,” Tether CEO Paolo Ardoino noted on X following the news about Bolivia’s considerations.
USDT, the leading stablecoin by market capitalization, ranks third among all cryptocurrencies, boasting a market cap exceeding $184 billion.