The Bolivian government is officially reviewing a proposal to integrate Tether’s USDT stablecoin into its national payment system, Economy Minister José Gabriel Espinoza confirmed. The technical evaluation will determine whether USDT can operate as a recognized medium of exchange alongside the Bolivian boliviano and the U.S. dollar, providing legal standing for everyday transactions across regulated channels. No decision timeline has been set, but the move signals a shift from the country’s previous hardline stance.
The proposal follows Bolivia’s 2024 removal of its blanket ban on cryptocurrencies, originally imposed in 2014. Since then, stablecoin adoption has surged as the country faced extended dollar shortages that hampered imports and international payments. Businesses and individuals have turned to USDT for cross-border transfers, savings, and even as a unit of account. Domestic banks like Banco Unión and Banco FIE have already launched USDT services for eligible customers, while other institutions signed agreements in 2025 to support regulated stablecoin activities.
Regulation remains a central part of the plan. Bolivia is on the Financial Action Task Force (FATF) gray list, so authorities are drafting stricter anti-money laundering and financial monitoring standards before green‑lighting wider USDT circulation. Officials also intend to embed digital assets into formal banking through savings products, loans, and payment solutions. “We are conducting the technical evaluation before adopting any decision,” Minister Espinoza stated. The review reflects a broader Latin American trend of exploring stablecoins amid currency volatility, though Bolivia’s final framework will be closely watched by regional policymakers and the global crypto market.
