- Bolivia repeals 2020 ban, permitting cryptocurrency transactions by way of licensed digital means.
- The Central Financial institution of Bolivia, in collaboration with ASFI and UIF, adjusts the regulation following GAFILAT tips.
Bolivia has lifted the ban on conducting transactions with bitcoin and different cryptocurrencies, a measure made official by the Central Financial institution of Bolivia (BCB) on June 26. This regulatory change revokes Board Decision N°144/2020 that had been in impact since December 2020, thus permitting the usage of digital means to function with digital belongings, simply as its neighboring nation Argentina has finished, you may learn extra about it in our Crypto Information Flashprotection.
The adjustment within the regulation was the results of a collaboration between the BCB, the Monetary System Supervisory Authority (ASFI) and the Monetary Investigations Unit (UIF).
The replace aligns with the suggestions of the Latin American Monetary Motion Process Power (GAFILAT), which has urged Bolivia to adapt to the challenges of the Crypto monetary in addition to the digital surroundings, in CNF you may learn extra about it.
Though cryptocurrencies are actually allowed to be traded by way of licensed digital channels, the Central Financial institution has reminded residents that cryptocurrencies should not thought of authorized tender in Bolivia. Because of this there isn’t a obligation to simply accept them as a method of fee.
The BCB has additionally introduced that it’s going to incorporate info on the dangers related to the commercialization of cryptoassets in its Financial and Monetary Schooling Plan. This effort seeks to educate the general public on learn how to safely deal with cryptocurrencies, highlighting the significance of being knowledgeable concerning the potential dangers.