Bolivia's national energy company YPFB will use cryptocurrency to pay for energy import costs

ChainCatcher news, according to Coindesk citing Reuters, Bolivia's state energy company YPFB will begin using cryptocurrency to pay for energy imports. YPFB hopes to directly address the country's dollar shortage and insufficient foreign exchange reserves by using cryptocurrency.

The report noted that Bolivia is currently facing a fuel crisis, primarily caused by a reduction in natural gas exports, which has led to sporadic protests across the country. A YPFB spokesperson told Reuters, "From now on, these (cryptocurrency) transactions will be executed."