Bolivia Tackles Illicit Crypto Flows Under IMF Program

Bolivia has agreed to build a regulatory framework for cryptocurrencies as part of its economic program with the International Monetary Fund. The government wants to limit illicit money leaving the country through digital asset markets.

The commitment appears in a memorandum from the Bolivian Ministry of Economy and Public Finance, dated September 10. It groups crypto oversight together with reforms to monetary policy, foreign exchange markets, pensions, and anti-money laundering controls.

USDT use has grown in Bolivia as the country deals with a dollar shortage. Tether CEO Paolo Ardoino said that usage of the stablecoin was rising in Bolivia and other economies facing monetary instability.