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Bolivia to use crypto to pay for energy imports — Report

Coin Telegraph LogoCoin Telegraph11h ago

Bolivia to use crypto to pay for energy imports — Report - Coin Telegraph

Quick Summary:

Related: Vibe killers: Here are the countries that moved to outlaw crypto in the past yearCrypto adoption in Bolivia increasesIn June 2024, Bolivia’s central bank, Banco Central de Bolivia, lifted its ban on Bitcoin (BTC) and crypto payments, allowing financial institutions to transact with digital assets.

The spokesperson for YPFB noted that the new purchasing system was designed to support national fuel subsidies in the country amid the shortage of foreign currency.“From now on, these (cryptocurrency) transactions will be carried out,” they said.

Related: Stablecoins will see explosive growth in 2025 as world embraces asset classStablecoin use gained further momentum in Bolivia in October 2024 when local bank Banco Bisa introduced a stablecoin custody service.

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Article Details

Author / Journalist: Cointelegraph by Christopher Tepedino

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-14 @ 16:21:24 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26996046

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 859 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

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