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Bolivia’s top bank called Crypto a “viable and relative option” for fiat currencies, which signs a monowondom of understanding with the L -Silwador to accelerate the adoption of Crypto.
The Central Bank of Bolivia said in a letter on Wednesday, “The agreement, which cooperates on policy development to two counties and shares the crypto intolerant equipment, is aimed at bolivia’s financial system and improper conversation for families and small entrepreneurs.”
Bolivia’s partnership with Al Salvador is notable as Al Salvador was the first country to make Bitcoin (BTC) a legal tender, and the potental faced by Bolivia can provide valuable insight into the economic or regulatory challenges.
Agreement – Edwin Rosas Ullo, Acting President of Central Bank of Bolivia and the National Commission of Digital Assets (CNAD) signed by Al Salvador Presidency Juan Carlos Reyes Garcia – immediately and indefinitely.
This connects the important mother to Bolivia’s Pro-Crypto Pivot, which began in June 2024 when Bolivia lived the Crypto ban and allowed banks to process bitcoin and stabechoin transactions.
Bolivians are heating crypto
Three months after lifting the Crypto ban, the Central Bank of Bolivia reported to reach the Crypto Trading Volume to $ 46.8 million – an average of $ 15.6 million per month – doubt the monthly average of 18 months preview.
Central Bank of Bolivia said in his letter that the mental was taken in 2025, the total crypto volume reached $ 294 million by 30 June.
Bolivia is turning to Crypto amidst its currency crisis
The march, the Bolivian state -owned oil and gas firm Yasimantos Petrifer Fisclles Bolivianos received the government’s approval to initiate crypting for fuel imports as a solution to the country that deepens and deepen significant challenges.
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Bolivia’s foreign exchange reserves have declined by $ 12.7 billion in July 2014 to $ 98%, which has increased to $ 165 million in this April this April, trading economics data show.
Some Bolivian shops have also started pricing basic items in the USDT Stablecoin, indicating a growing change towards crypto to navigate the currency crisis.
Bolivian in Bolivia remains the most commonly used currency in Boliviao; However, the fear of losing fear power over it has led many stable options such as the US dollar, or in some cases, Crypto.
Bolivia’s future will be decided by October
The agreement is ahead of the high-day general election of Bolivia on August. 17, where many people expect to see the end of the current socialist rule, which is in power in 2005.
If any candidate does not secure more than 50% of the vote or at least 40%, then the second place will be held on 19 October with a 10-point lead on the cansaer-one runoff.
Crypto predictions platform polymarket gives a possibility of just 5% that a candidate will win outright in the first round election of Bolivia.
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