🇧🇴After the Bitcoin ban is lifted, the Bolivian cryptocurrency market is ushering in spring!
Cryptocurrency trading volumes experienced explosive growth after the Central Bank of Bolivia (BCB) lifted its ban on Bitcoin in June.
The latest report shows that the country’s virtual asset trading volume has more than doubled in the past three months, with the average monthly transaction volume soaring from US$7.6 million in the first half of the year to US$15.6 million, and the total quarterly transaction volume reaching US$46.8 million. This not only represents the market’s eager demand for cryptocurrencies, but also reflects the positive pace of Bolivia’s economic modernization.
At the same time, as the transaction volume increased, the number of virtual asset transactions in the country also increased by 141%, from 932,000 to 1.123 million. This significant growth shows the increasing acceptance of cryptocurrencies by financial institutions and individual users.
However, in order to ensure the healthy development of the market, the Central Bank of Bolivia (BCB) works closely with Brazilian financial regulators to not only follow international anti-money laundering and anti-terrorist financing guidelines, but also jointly promote the implementation of relevant regulations.
Edwin Rojas, acting president of the Central Bank of Bolivia (BCB), believes that the shift to virtual assets is a key step in modernizing the Bolivian economy and integrating into global markets. This not only provides citizens with new ways to handle cross-border transfers and electronic payments, but also opens up new paths for the diversification of the Bolivian economy.
Therefore, in order to increase public awareness of cryptocurrencies, the Central Bank of Bolivia held several seminars with more than 3,000 participants to learn about the operation of virtual assets and the risks associated with them.
All in all, this move by Bolivia could serve as a model for other countries as more and more countries begin to realize the potential of cryptocurrencies. This not only brings new economic opportunities to Bolivia, but also injects new vitality into the development of the global cryptocurrency market.
👇What do you think about the surge in cryptocurrency trading volume after Bolivia lifted its ban? What implications does this have for other countries? Will cryptocurrencies become the new engine driving economic development? Share your thoughts in the comments section!
