Cryptocurrency adoption is growing in Bolivia, one of the smallest economies in Latin America. The country's central bank recently emphasized the growth of local crypto activities, noting that it has 'activated the national payment system.'
According to the data from this line, after the comprehensive ban on banks and payment institutions conducting cryptocurrency operations through their channels was lifted, digital asset trading activities increased by 112%.
The central bank now estimates that over 252,000 Bolivians hold digital assets and complete trading operations on different platforms. The bank's president, Edwin Rojas Ulo, pointed out that cryptocurrency trading volume exceeded $75 million in the past four months (from July to October 2024), a significant increase compared to the $46.4 million traded in the first and second quarters of 2024. (Bitcoin.com)
According to news from the end of June, Bolivia has lifted the ban on Bitcoin and other cryptocurrencies. The ban took effect in December 2020. On June 26, the Central Bank of Bolivia (BCB) officially announced that banks can now conduct cryptocurrency transactions.