Bolivia has lifted its ban on Bitcoin and other cryptocurrencies. On June 26th, the Central Bank of Bolivia (BCB) announced that banks are now permitted to engage in cryptocurrency transactions. This regulatory change reverses Board Resolution No. 144/2020, which had been in effect since December 2020.
While cryptocurrencies can now be traded through authorized electronic channels, the Central Bank of Bolivia emphasizes that they are not considered legal tender. This regulatory shift comes against a backdrop of political and economic turmoil in the country. Recently, Bolivia witnessed a dramatic coup attempt, where soldiers occupied the central square of La Paz and used an armored vehicle to breach the presidential palace. The coup, led by General Juan José Zúñiga, was swiftly suppressed shortly after it began.
