The Central Bank of Bolivia announced that it has lifted the ban on Bitcoin and other cryptocurrencies.
The Central Bank of Bolivia, has authorized financial institutions to carry out cryptocurrency transactions
In its statement, the Central Bank of Bolivia said the move was taken to revive the economy troubled Bolivia and make it compatible with cryptocurrency regulations in Latin America.
The Central Bank of Bolivia has warned citizens that Bitcoin and other cryptocurrencies are not “legal currency,” although the ban has been lifted, and emphasizes that the only legal currency in Bolivia is “Bolivia Boliviano.”
Therefore, although the Bolivian government allows buying and selling of cryptocurrencies through banks But they do not recognize them as legitimate and remind investors that they should manage their own risks.
As many Latin American countries struggle with economic downturns and high inflation, El Salvador has become the only country in the world and in the region to accept Bitcoin as a form of payment. legal currency.
Argentina, one of the Latin American countries, is following in the footsteps of El Salvador.
El Salvador Proposes to Create a Bitcoin Bank
