Bolivian authorities implement crypto ban

Central bank will enforce 2020 measure banishing virtual assets from payments system

Banco Central de Bolivia
Central Bank of Bolivia, La Paz
Photo: Rachael King

The Bolivian central bank barred the banking sector from any transactions related to crypto assets on January 10.  

The measure “prohibits the use, marketing or transaction of crypto assets (digital or virtual coins) in the national payments system”.

In its press release on January 10, the central bank said that the measure was necessary to protect the public from “risks, frauds and swindles”. The statement also warns that crypto trading has “the risk of creating economic losses” for those

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