Odaily Planet Daily News: Edwin Rojas Ulo, the president of the Central Bank of Bolivia, mentioned the recent shift in the institution's stance on cryptocurrencies and stablecoins. Rojas Ulo reportedly said that he believes that it may be beneficial to add cryptocurrencies as an alternative to the national financial system, and that the decentralized nature of these assets will "favor commercial and private activities for the purchase of services, and of course meet different needs." However, he also admitted that some assets, such as Bitcoin, can be used as investment tools to gain returns, but their volatility may be disadvantageous to users. Rojas Ulo also mentioned stablecoins, explaining that stablecoins like USDT, which are pegged to the US dollar, bring different advantages to users who cannot access the US dollar. (Bitcoin.com) Earlier news, Bolivia has lifted its ban on Bitcoin and other cryptocurrencies. The ban came into effect in December 2020. On June 26, the Central Bank of Bolivia (BCB) has officially announced that banks can now conduct cryptocurrency transactions. However, although cryptocurrencies can now be traded through authorized electronic channels, the Bolivian Central Bank reminds citizens that cryptocurrencies are not considered legal tender.
