• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
crypto

Crypto Adoption Expands In Latin America: Bolivia Lifts 4-Year Cryptocurrency Ban

Rubmar Garcia
by Rubmar Garcia
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto adoption continues to expand in Latin America as more countries embrace cryptocurrencies and digital assets. Recently, Bolivia announced they lifted their 4-year crypto ban to “modernize the payment system.”

Related Reading: Nigerian Blockchain Committee Addresses Binance Case’s Impact On The Industry

Bolivia About To Revolutionize Its Payment System

On June 26, the Central Bank of Bolivia (BCB) revealed it had revoked its previous resolution that banned the use of cryptocurrencies in the country. The Board Resolution N°144/2020, issued on December 15, 2020, prohibited the “use of channels and Electronic Payment Instruments (IEP) for purchase and sale transactions of Virtual Assets.”

The new Board Resolution N°082/2024 allows financial entities to transact with crypto. The decision was made in collaboration with the Financial System Supervisory Authority (ASFI) and the Financial Investigations Unit (UIF), taking into consideration the Mutual Evaluation of the Plurinational State of Bolivia 2023 – 2024 carried out by the Latin American Financial Action Task Force (GAFILAT).

crypto

BCB's press release annoucing the ban lift. Source: Banco Central de Bolivia on X 

After the evaluation, GAFILAT recommended the Bolivian watchdogs consider the regulation of Virtual Asset Service Providers (VASPs) “according to the public policy to be defined in the Bolivian context.”

The task force also highlighted that during the last year, the country has worked on a legal basis that “will allow facing new challenges in this modernization process” and incorporate crypto and its regulations into the Bolivian payment system.

The president of the Central Bank of Bolivia, Edwin Rojas Ulo, affirmed that the BCB has continuously worked to modernize the country’s payment system and infrastructure. Rojas Ulo emphasized that, with the new Board Resolution, Bolivians will have a new mechanism for financial activities.

The BCB, within the framework of its policies, has continuously promoted the modernization of the national payment system and the development of the payment infrastructure, making viable with its actions the adoption of technological innovations and new payment schemes, currently becoming a regional reference in terms of interconnection, interoperability, and digital financial inclusion, promoting active and equal participation of banking and non-banking entities, favoring the democratization of financial services. Within this framework, Board Resolution N° 084/2024 will provide the population with an additional mechanism that will contribute to the strengthening of financial and commercial activities.

A Step Toward Broader Crypto Adoption

According to the press release, ASFI will control the Financial Intermediation Entities (EIF), including the means the entities provide to acquire crypto assets. Additionally, it will offer financial education on virtual assets and their risks to the population.

The IUF will oversee the preventive measures “to identify possibly suspicious operations linked to the legitimization of illicit profits and financing of terrorism.” The institution will make the “pertinent regulatory adjustments” to prevent crime-related transactions with virtual assets.

However, the BCB emphasized that the Boliviano remains the only legal tender in the country. Unlike El Salvador, which made Bitcoin a legal tender in the country, BTC and other cryptocurrencies are “not cash, and there is no obligation on the part of the population” to receive them as a payment method.

Ultimately, the Central Bank will incorporate conceptual aspects and the risks of using crypto assets into its Economic and Financial Education Plan. This measure aims to promote greater knowledge to the population and allow Bolivians to make informed decisions when using virtual assets.

Related Reading: Crypto Victory? Industry Critic Loses NY 16th District Democratic Primary

crypto, BTC, BTCUSDT, Bitcoin

Bitcoin (BTC) is trading at $61,713 in the five-day chart. Source: BTCUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Rubmar Garcia

Rubmar Garcia

Follow

Rubmar is a crypto enthusiast who likes learning and improving constantly. She enjoys reporting on the latest news and developments in the crypto industry. Rubmar also enjoys scrapbooking, crafting, simulation games, and watching football.

Full Profile

Related Posts

Best Altcoins to Buy After US Senate Confirms Tokenized Stocks Are Still Securities

Best Altcoins to Buy After US Senate Confirms Tokenized Stocks Are Still Securities

2 hours ago
Best Crypto to Buy as Banking Giants Now Predict at Least Two Rate Cuts in 2025

Best Crypto to Buy as Banking Giants Now Predict at Least Two Rate Cuts in 2025

2 hours ago
Pepenode presale reaches $800k allows users to mine meme coins

Pepenode’s Presale Reaches $800K As It Allows Users to Create Virtual Crypto Mining Rigs

7 hours ago
Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

1 day ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

1 day ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

1 day ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    23 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    23 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    1 day ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    2 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.