Crypto payments soar 630% in Bolivia, central bank reports $430M since lifting ban

The Bolivian central bank reported on June 27 that domestic crypto transactions totaled $430 million in the 12 months since regulators reopened formal payment rails, a 630% jump over the previous year. 

The Banco Central de Bolivia (BCB) reported that users processed 10,193 operations worth BOB 611 million as of May 31, 2025, approximately $88 million. 

Natural persons executed 86% of those transfers, and men accounted for 77% of that cohort. The report counted flows only on channels registered with the financial system supervisor ASFI, leaving peer-to-peer activity outside the tally. Binance-linked rails moved the largest share. 

First-half volumes highlight the pace. Crypto payments climbed from $46.5 million in the first six months of 2024 to $294 million in the comparable 2025 window.

Oversight strategy

The growth follows Resolution 082/2024, issued last June 25, which formally recognized “virtual assets” and allowed banks to route customer orders to exchanges.

Bolivia extended the use of crypto to the public sector on March 13, when authorities permitted the national energy company YPFB to pay for fuel imports with digital assets, citing an acute dollar shortage and ongoing fuel supply strain.

The BCB stated that it would publish quarterly dashboards on exchange activity and collaborate with the tax authority, SIN, to integrate wallet analytics with existing value-added tax records. 

Banks must file daily reports on crypto outflows and maintain real-time screening against the Office of Foreign Assets Control sanctions list. Regulators flagged 27 accounts for enhanced examination but imposed no fines in the period reviewed.

Officials have warned that custodial wallets are excluded from the national deposit insurance scheme. 

They urged users to keep their private keys offline and to verify the spelling of the domain name before logging in. The literacy modules include live demonstrations of deep-fake investment scams that recently targeted WhatsApp groups in La Paz. 

New legal guardrails and education push

President Luis Arce’s government advanced the framework in May with Supreme Decree 5384, creating licenses for fintech firms and virtual-asset service providers. 

The decree mandates anti-money laundering controls aligned with GAFILAT guidance and defines tokenized assets, blockchain networks, and custody obligations. ASFI has 40 working days to publish implementing rules.

The BCB paired the legal overhaul with a national literacy campaign. Officials scheduled workshops in all nine departments to cover private-key management, price volatility, and fraud prevention. 

“Modern digital tools can improve economic activity, but citizens must understand the risks,” the report said.

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