Reports from Bolivia's central bank or other authoritative financial institutions

Bolivia Sees 100% Surge in Crypto Trading to $15.6M Monthly After Bitcoin Ban Lifted

Sep 27, 2024, 11:45 PM

Bolivia has experienced a significant surge in virtual asset trading following the lifting of a 42-month Bitcoin ban. Since June, the country's central bank has reported a 100% increase in crypto transactions, driven largely by stablecoins. The trading volume has reached $15.6 million per month between July and September, more than doubling the figures seen before June. This surge in activity marks a notable shift in Bolivia's financial landscape, with the central bank playing a pivotal role in this transformation. Additionally, six new banks have been established to support the growing crypto market.