Following the removal of restrictions in mid-2024, crypto transactions surged to $430 million in the country.
By Francisco Rodrigues|Edited by Nikhilesh De Jul 13, 2026, 2:47 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Tether CEO Paolo Ardoino (Nikhilesh De/CoinDesk)SummaryShow- Bolivia is assessing a framework to integrate USDT into its national payment system as a regulated alternative to the boliviano and U.S. dollar.
- Following the central bank's removal of restrictions in mid-2024, crypto transactions surged to $430 million.
- For official adoption, strict anti-money laundering measures will be necessary due to Bolivia's status on the Financial Action Task Force's grey list.
Bolivia is contemplating the addition of Tether's USDT stablecoin to its national payment system, signifying a notable shift from its previous stance on crypto transactions.
During a press conference held on Monday, Economy Minister José Gabriel Espinoza mentioned that the government is exploring the potential for USDT to operate alongside the boliviano and the U.S. dollar.
This initiative is still in the technical review phase, and the government has yet to release implementation guidelines or grant USDT legal tender status, as reported by local news outlet La Razón.
Espinoza noted that officials are working on a framework for banks, digital wallets, and payment providers. Any implementation would necessitate enhanced anti-money laundering protocols, especially since Bolivia is on the Financial Action Task Force's grey list, indicating increased scrutiny regarding its financial crime controls.
This proposal emerges amid a significant uptick in crypto adoption following the central bank's decision to lift restrictions on crypto transactions in June 2024. According to central bank data, the volume of crypto transactions soared from $46.5 million in the first half of 2024 to $294 million in the same period the following year, marking a 630% increase after the restrictions were lifted.
As businesses and consumers seek alternatives to the limited availability of U.S. dollars, demand for cryptocurrencies has surged. Earlier this year, Bolivia discontinued its long-standing fixed dollar peg and transitioned to a floating exchange rate.
YPFB, the state energy company, announced intentions last year to utilize crypto for energy imports, while the central bank has sought assistance from El Salvador in developing its crypto regulatory framework.
In April, state-operated Banco Unión and its Yasta wallet began allowing customers to purchase USDT through EFY Finance for international transactions and remittances.
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk Research4 hours agoCEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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