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FollowingBolivia considers legalizing USDT as an official payment method
Bolivia is considering making Tether's USDT an official payment option while gradually relaxing regulation of digital cryptocurrencies. After lifting a long-standing ban on cryptocurrency trading in early 2024, the Bolivian government is seeking to more effectively regulate digital assets to integrate them into the economic system.
Why consider stablecoins?
Bolivian Economy Minister José Gabriel Espinosa Yáñez emphasized the need for prudent supervision when advancing this move. Bolivia is still on the Financial Action Task Force's "grey list", which shows that the country needs to strengthen anti-money laundering and counter-terrorism financing efforts, but it also shows positive progress in addressing these issues.
Currently, a new regulatory framework is being drafted to regulate the use of digital cryptocurrencies, especially for those who regularly use digital assets. Espinosa Yáñez said: "We are developing regulations to regulate the use of digital cryptocurrencies by those who have adopted digital cryptocurrencies-in many cases out of practical needs and know how to use them reasonably."
How does cryptocurrency trading volume grow?
Bolivia's cryptocurrency trading volume has increased significantly. From July 2024 to June 2025, the country facilitated deals totaling more than US$14.8 billion. According to Chainalysis's blockchain analysis data, this places Bolivia eighth in Latin America in cryptocurrency adoption rates, surpassing countries such as Ecuador and Puerto Rico.
Data shows that this growth has given Bolivia a favorable position in the region. In the past three years, the cumulative volume of cryptocurrency transactions across Latin America has reached US$1.5 trillion.
In October 2024, Banco Bisa took an important step by launching a cryptocurrency escrow service for USDT, highlighting Bolivia's transition to deeper cryptocurrency integration.
Bolivia lifted its ban on cryptocurrency transactions in 2024. The country recorded $14.8 billion in cryptocurrency trading volume in one year and ranks eighth in Latin America in cryptocurrency adoption rates. Starting from October 2024, Banco Bisa will start providing USDT hosting services.
Tether's USDT is increasingly influential in emerging markets due to its stability and pegging to the US dollar. This stablecoin has become an important global asset, with a market value of more than US$184 billion. Tether CEO Paul Adoino pointed out that the USDT's role in multiple developing economies is expanding.
"USDT is increasingly being used as a cornerstone for multiple emerging market economies," Tether CEO said in a post on the X platform.
These developments show that Bolivia is gradually aligning itself with global fintech trends.
