Bolivia mulls recognizing USDT as payment currency amid dollar shortage
As foreign currency reserves remain under pressure, Bolivia is considering a framework to let the world’s largest stablecoin be used for payments, savings and trade.
Bolivia is evaluating integrating Tether’s USDt into its national payments system, a move that could mark one of Latin America’s most significant stablecoin adoption initiatives as the country grapples with a persistent shortage of US dollars.
Economy and Public Finance Minister Jose Gabriel Espinoza told a press conference on Monday that the government is assessing a regulatory framework that would allow USDT to circulate “as just another currency,” alongside the boliviano and the US dollar.
According to the Spanish news outlet CriptoNoticias, the framework is still under review and, if adopted, would recognize USDT for everyday transactions, including payments, savings and trade, without relying exclusively on cash or the traditional banking system.
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