TL;DR
- Bolivia is evaluating the integration of Tether’s USDT stablecoin into its national payment system as a regulated alternative to its local currency and the dollar.
- Crypto transaction volume grew 630% after restrictions were lifted in June 2024, reaching $430 million over one year.
- Economy Minister José Gabriel Espinoza confirmed the proposal is under technical review and has no implementation rules yet.
Bolivia is evaluating the incorporation of Tether’s stablecoin USDT into its national payment system as a regulated alternative to the boliviano and the US dollar, sending a strong signal of the transformation the country has undergone since it reversed its historic ban on crypto assets. Economy Minister José Gabriel Espinoza confirmed during a press conference that the government is analyzing whether USDT could circulate alongside the fiat currencies already in use in the country.
The proposal is currently in a technical review phase. According to local outlet La Razón, the Bolivian government has not published implementation rules nor granted USDT legal tender status. Authorities are working on a regulatory framework involving banks, digital wallets and payment providers.
Stricter Controls
Any implementation would require stricter controls against money laundering, as Bolivia remains on the grey list of the Financial Action Task Force (FATF), which entails heightened scrutiny over deficiencies in its anti-financial crime regime.
The Crypto Boom in Bolivia
The momentum behind this initiative stems from rapid adoption since the Central Bank lifted restrictions on transactions in June 2024. Data from the institution show that volume climbed from $46.5 million in the first half of that year to $294 million in the same period of 2025, representing a total growth of 630%.
A shortage of dollars in the local economy has pushed businesses and consumers to seek alternatives. The situation worsened following the abandonment of the fixed exchange rate with the dollar, replaced by a floating regime earlier this year. In that context, state-owned company YPFB announced the use of cryptocurrencies for energy imports, and state-run Banco Unión enabled in April the purchase of USDT through EFY Finance for international payments and remittances via its Yasta wallet.
