Bolivia Lifted Crypto Ban To Mitigate Dollar And Fuel Shortage

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President Luis Arce revealed that the reason behind the lifting of Bolivia’s crypto ban was the dollar and fuel shortages in the country. Notably, he sees cryptocurrencies as a solution to Bolivia’s macroeconomic challenges. On June 26, the Central Bank of Bolivia (BCB) allowed the use of virtual assets through Electronic Payment Instruments (EPI). Edwin Rojas, the BCB president, explained that this new regulation will enable electronic payment channels and instruments for the purchase and sale of virtual assets. The BCB also launched a comprehensive training program on July 2 to educate various sectors about virtual assets.