Bolivia is studying whether USDT can be added to the country’s payment system alongside the boliviano and the US dollar. Economy Minister José Gabriel Espinoza said officials are carrying out a detailed technical review of the proposal, while the Ministry of Economy is drafting regulatory guidance for banks, digital wallets, and payment service providers on handling stablecoin payments in a controlled setting.
No implementation timeline has been released, and authorities have not published operating standards. Regulatory teams are examining how USDT transactions would fit existing financial, currency, and anti-money-laundering rules. Espinoza said the government is reviewing both the technical and regulatory sides of the plan before deciding whether USDT can function inside the national financial system. That review will shape whether the stablecoin becomes part of Bolivia’s payment infrastructure.
FATF grey-list status raises the compliance bar
If USDT is allowed into the system, banks and payment processors involved would face tighter oversight and reporting requirements. Bolivia remains on the Financial Action Task Force grey list because of gaps in its framework for fighting financial crime. That matters here. It suggests the government will demand stronger controls for any cryptocurrency-related transaction before expanding stablecoin use.
The review is not limited to broad policy language. Regulators are focused on whether stablecoin payments can be monitored, recorded, and checked under current compliance standards, especially in cases tied to cross-border transfers and fund tracing.
Crypto volumes jumped to $294 million after restrictions were lifted
Bolivia’s central bank removed previous restrictions on cryptocurrency transactions in June 2024, and digital asset activity accelerated after that change. Transaction volume stood at $46.5 million in the first half of 2024, then climbed to $294 million in the second half of the year. The central bank linked the move to a 630% increase in transaction volume after the restrictions ended, pointing to stronger demand for digital assets across the financial market.
Pressure in the foreign-exchange market has also fed that demand. The report says Bolivia has been dealing with ongoing foreign currency shortages and shifted earlier this year from a fixed dollar exchange rate to a floating system. With access to US dollars becoming more limited, businesses and individuals have been turning to alternatives such as stablecoins for domestic payments and cross-border transfers.
State bank and energy company have already tested the ground
State-owned Banco Unión expanded its Yasta digital wallet in April to include USDT purchases. The service was launched through a partnership with EFY Finance and allows customers to use USDT for remittances and international transfers. It is one of the country’s first regulated channels for stablecoin transactions.
Another official signal came from state energy company YPFB, which said last year that it planned to use cryptocurrency to buy imported energy. At the same time, Bolivia’s central bank has sought technical advice from El Salvador, which set up a national digital-asset framework after recognizing Bitcoin as legal tender. Taken together, those steps show growing official interest in digital finance and managed crypto adoption, but any broader rollout of USDT still depends on the completion of technical reviews and the formal release of operating standards.