Bolivia Approves Crypto Banking: USDT to Be Used for Daily Payments
The post Bolivia Approves Crypto Banking: USDT to Be Used for Daily Payments appeared first on Coinpedia Fintech News
Bolivia has officially embraced crypto banking, and it starts with USDT. After years of strict restrictions, the government has finally opened the doors for digital currencies to become part of the country’s legal financial system.
With banks soon offering crypto accounts and cards, Bolivians will be using digital money for everyday life, faster, cheaper, and without the old limits.
From Crypto Ban to Full SupportFor years, Bolivia maintained one of the strictest stances against cryptocurrencies, outright banning their use since 2014 due to concerns over financial stability, and warned citizens not to use them.
However, in June 2024, the Central Bank of Bolivia (BCB) lifted its blanket ban, authorizing crypto transactions through official electronic channels.
Jose Gabriel Espinoza, Bolivia’s newly appointed Economy Minister, announced that the country will officially integrate cryptocurrencies into its financial structure. The shift starts with stablecoins like USDT, which are linked to real-world assets and avoid the high price swings seen in Bitcoin.
