BlockBeats News, July 13th - The Bolivian government is currently evaluating the incorporation of the Tether-issued stablecoin USDT into the national payment system. The plan is to establish USDT as a compliant payment option alongside the Bolivian Boliviano and the US Dollar. Currently, the proposal is still in the technical evaluation stage, with specific implementation guidelines yet to be announced, and USDT has not been given legal tender status.

Reports indicate that Bolivia's Minister of Economy, José Gabriel Espinoza, has stated that the government is developing a regulatory framework applicable to banks, digital wallets, and payment service providers. Additionally, there will be enhanced anti-money laundering regulation to comply with the country's current regulatory requirements as it remains on the FATF (Financial Action Task Force) grey list.

Since the Central Bank of Bolivia lifted the restriction on cryptocurrency transactions in June 2024, the adoption of cryptocurrencies in the country has rapidly increased. Official data shows that in the first half of 2025, cryptocurrency transaction volume surged to $294 million, a significant rise from $46.5 million in the same period of 2024. Following the restriction lift, the total national cryptocurrency transaction volume has grown by approximately 630%.

With domestic US Dollar liquidity facing continued tightness and the exchange rate regime shifting towards a floating exchange rate, more and more businesses and residents are beginning to utilize stablecoins as cross-border payment and value storage tools. Previously, Bolivia's state-owned energy company YPFB announced plans to use cryptocurrency for energy imports, and the state-owned bank Banco Unión's Yasta wallet launched USDT purchasing services in April of this year for international payments and remittances.