Bolivia Signs Agreement with El Salvador for Crypto Policy Development
On July 30, Bolivia's central bank signed an agreement with El Salvador to develop a legal and technical framework for cryptocurrency adoption. This partnership follows El Salvador's recognition of Bitcoin as legal tender.
- Bolivia refers to cryptocurrencies as a viable alternative.
- The agreement includes sharing crypto intelligence tools and collaborating on policy development.
- This marks a shift from Bolivia's previous crypto ban, which existed until 2024.
- In the last year, Bolivia adopted a pro-crypto policy, allowing banks to facilitate BTC and stablecoin transactions.
Bolivia’s Crypto Growth
- After lifting its crypto ban, Bolivia reported a trading volume of $46.8 million, averaging $15.6 million per month.
- Total crypto trading volume reached $294 million by June 30, 2025.
- Yacimientos Petrolíferos Fiscales Bolivianos received approval to accept cryptocurrency for fuel imports.
- Local businesses have started accepting Tether’s USDT stablecoin amid currency shortages.
El Salvador continues to build its Bitcoin treasury while facing opposition from institutions like the IMF. The country secured a $125 million loan in May despite skepticism regarding its Bitcoin strategy.