Bolivia evaluates the inclusion of USDT in the national payment system

According to CoinDesk, the Bolivian government is evaluating the inclusion of the Tether stablecoin USDT into the national payment system, allowing it to circulate alongside the boliviano and the US dollar as a regulated option. Minister of Economy José Gabriel Espinoza stated that authorities are developing a framework for banks, digital wallets, and payment institutions, and the proposal is still in the technical review stage, with USDT not yet granted legal tender status or implementation details announced.

Since the central bank lifted restrictions on cryptocurrency trading in mid-2024, local cryptocurrency trading volume has surged to $430 million within a year, with overall trading volume increasing by about 630%. Against the backdrop of US dollar scarcity and the shift to a floating exchange rate this year, demand for crypto assets among businesses and residents has risen. Officials stated that if the proposal is implemented, it will strengthen anti-money laundering regulations, as Bolivia remains on the gray list of the Financial Action Task Force.