The Central Bank of Bolivia signed an agreement with Salvador on the accelerated introduction of cryptocurrencies into the financial system of his country. The state economy of Bolivia is now experiencing a crisis, inflation set a record of a decade and all this happens against the backdrop of the presidential election.

The Central Bank of Bolivia announced that, thanks to the agreement, the country will be able to cooperate with Salvador in the development of the rules for regulating cryptocurrencies and the exchange of tools for monitoring cryptotrazazations. The Bolivian regulator called cryptocurrencies a viable and reliable alternative to fiat currencies.

Salvador became one of the first countries of the world to legalized bitcoin as a means of calculation.

The agreement was signed by the acting President of the Central Bank of Bolivia Edwin Rojas Ulo and the President of the National Commission on Digital Assets (CNAD) Salvador Huan Carlos Reyes García.

The day of elections in Bolivia is scheduled for August 17.

In June 2024, Bolivia canceled the ban on cryptocurrencies, allowing banks to process transactions with bitcoin and stablecoins. Three months after the lifting the ban, the Central Bank said that the average monthly volume of trading of cryptocurrencies in the country reached $ 15.6 million. This doubled the average monthly indicator for the previous 18 months.

The trend was preserved in 2025: as of June 30, the total volume of trading of cryptocurrencies reached $ 294 million.

In March, the Bolivian State Oil and Gas Company Yacimimientos Petrolíferos Fiscales Bolivianos received a government permission to receive cryptocurrencies to pay for fuel imports. The decision was made against the background of a growing currency crisis and a deficit of US dollars in the state. Since spring, Bolivian stores began to set prices for goods in USDT stabelcoins.

In the spring, the Salvador authorities signed an agreement with a paragraph on strengthening joint supervision of cryptocurrencies. The regulators of both countries were going to track illegal activities with crypto actures in order to prevent money laundering and financing of terrorism.