Key Takeaways
- Bolivia is studying the inclusion of USDT alongside its fiat currency to combat its foreign exchange crisis.
- Crypto volumes rose over 600% in 2025, but gray-list status requires strict laundering regulations next.
- The government floated its exchange rate and plans to integrate stablecoins directly into the banking system.
Bolivia Evaluates Inclusion of USDT in its Payment System
Bolivia is racing to become one of the first nations in the world to integrate cryptocurrency, specifically stablecoins, into its financial system.
On Friday, Jose Gabriel Espinoza, the Minister of Economy and Public Finance of Bolivia, stated that the Bolivian government was studying the inclusion of USDT, the largest stablecoin by market capitalization, and charted the course of action it would have to follow to achieve this goal safely.
During a press conference, Espinoza clarified that Bolivia lacks a regulatory framework to allow these changes to happen immediately, even as the Central Bank lifted a ban on operations servicing digital assets. Espinoza assessed that this measure was taken out of desperation and without further planning, as USDT took a pivotal role as a dollar proxy to aid Bolivia in facing a foreign currency scarcity crisis.
Indeed, after the 2020 ban was lifted in June 2024, trading volumes skyrocketed, with numbers rising over 600% in the first six months of 2025.
Espinoza explained that a system in which USDT circulates with the U.S. dollar and the Bolivian boliviano was under consideration. Nonetheless, several elements would have to be in place first for this to happen in compliance with international standards.
Complications would arise from the fact that Bolivia is on the Financial Action Task Force (FATF) gray list since June 13, 2025, meaning it is under increased monitoring by the organization.
“These cryptoassets must be well regulated to avoid turning them into a source for money laundering or to cover up illicit activity,” Espinoza stressed.
Espinoza had referred to this subject before. In November, he declared that cryptocurrency would be added to the national banking system and would become legal tender, signaling a favorable stance toward digital assets coming from Rodrigo Paz’s Administration. Bisa Bank, the fourth-largest private bank in Bolivia, already offers USDT exchange services.
This move might help Bolivia’s economy regain its dynamism, as the government recently lifted currency controls, allowing the dollar to float freely after 15 years of fixed exchange rates.
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The Economy Minister of Bolivia, Jose Gabriel Espinoza, stated that cryptocurrency would be added to the country’s financial services, making…
Historic: Bolivia to Integrate Stablecoins Into Its Banking System, Use Them as Legal Tender
The Economy Minister of Bolivia, Jose Gabriel Espinoza, stated that cryptocurrency would be added to the country’s financial services, making…
Historic: Bolivia to Integrate Stablecoins Into Its Banking System, Use Them as Legal Tender
The Economy Minister of Bolivia, Jose Gabriel Espinoza, stated that cryptocurrency would be added to the country’s financial services, making…
