The government evaluates a regulatory framework to adopt Tether’s stablecoin for transactions, savings, and trade to ease dollar scarcity.
Bolivia is exploring a regulatory framework to recognize USDT as a legal payment method, aiming to address a persistent shortage of US dollars. The move would allow the stablecoin to be used for everyday transactions, savings, and trade alongside the boliviano and USD, according to officials.
The proposal follows the country’s decision to lift its cryptocurrency ban in 2024 and reflects broader efforts to integrate digital assets into its financial system. Economy Minister Jose Gabriel Espinoza emphasized the need for robust anti-money laundering safeguards, as Bolivia remains on the FATF grey list.
If adopted, the framework would mark one of Latin America’s most significant stablecoin adoption initiatives, reducing reliance on traditional banking systems for foreign currency access.