Key Takeaways
- Bolivia's virtual asset trading surged 100% after lifting its Bitcoin ban.
- The country saw $48.6 million in virtual asset trades from July to September 2024.
- Cryptocurrency transactions grew 141%, driven by six new financial institutions.
Bolivia’s central bank (BCB) has reported a 100% increase in virtual asset trading between July and September following the lifting of its 42-month ban on Bitcoin in June.
According to the BCB, roughly $15.6 million was traded monthly during this period, a 105% jump compared to the previous 18 months.
In total, $48.6 million worth of virtual assets were traded in the last three months-—more than the previous six months combined.
The majority of these transactions involved stablecoins.
Cryptocurrency transaction volume also grew by 141%, driven by six new financial institutions registering to provide virtual asset services.
BCB’s acting president, Edwin Rojas Ulo, emphasized the need to integrate virtual assets in areas such as international transfers and e-commerce. He stated:
Our country is taking giant steps towards an economic future with greater use of accessible digital instruments.
Since the ban was lifted, Bolivia has incorporated virtual asset education into its national programs, holding 33 workshops and reaching over 3,000 people. The move is expected to better position Bolivian businesses in global commerce.
