Bolivia Sees Over 100% Surge in Crypto Transactions After Legalizing Payments
Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...
Bolivia has experienced a massive surge in crypto transactions over the past three months following new regulations that legalized the use of digital payment channels.
According to a recent announcement from the Central Bank of Bolivia, the country’s monthly trading volume of virtual assets rose from $7.6 million to $15.6 million, driven mainly by stablecoin transactions and increased public interest.
The Central Bank of Bolivia attributed this growth to implementing Board Resolution 082/2024, which came into effect in June, enabling the use of electronic payment channels for virtual assets.
The number of virtual asset transactions also saw a sharp rise, with over 1.1 million transactions recorded from July to September, compared to around 932,000 in the previous six months. Individuals conducted the majority of these transactions.
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