Bolivia gets ready to enable regulated access to USDT, the stablecoin issued by the Tether company, through the national banking system. This advance arises from a strategic alliance between EFY, a company providing services with Bitcoin and other digital assets, and the state Banco Unión, with the support of the financial system supervision authority (ASFI).
The announcement was made Andrés Tobón, CEO of Effy, who pointed out that The initiative will allow citizens to access Stablecoins through a regulated financial entitywhich represents a significant advance in terms of trust, traceability and user protection.
“Now Bolivians can operate with USDT from channels supported by current regulations and with the security offered by the formal financial system,” held Tobon According to the employer, the project is currently in the technological integration phase and Its launch is scheduled for the coming weeks.
In his speech at the panel “Stablecoins: the future of payments in the region”, the specialist stressed that, with 71%, Latin America leads the adoption of stable currencies for international payments, surpassing Europe (58%) and the United States (39%). In Bolivia, he highlighted the significant growth in the use of these digital assets to send and receive money from abroad, especially through remittances, which in 2023 exceeded 1.5 billion dollars.
“In Bolivia we have seen that growth and adoption to make payments abroad or receive foreign currency more agile and with lower costs has intensified in recent times,” he said.
EFY also plans to implement financial education programs destined to promote a safe and responsible use of the stablecoins. These campaigns aim to reduce frequent errors, such as the sending of assets by wrong networks, and to strengthen user confidence in these digital tools, which well applied can significantly improve personal finance management.
The EFY CEO also highlighted the example of El Salvador, a country that implemented a clear regulatory framework for the use of bitcoin and cryptocurrencies. According to Tobón, this approach facilitates the formal and safe integration of emerging technologies in economies that face exchange restrictions or limitations in their banking system.
«[El Salvador] It was a pioneer when creating a regulated frame for Bitcoin and Stablcoins, and opened the way for other countries to adopt this type of technology from formality, ”he explained.
A new regulatory framework for the ecosystem in Bolivia
As Cryptonoticias reported, Bolivia has established a new regulation through the ASFI 540/2025 resolution, backed by Supreme Decree 5384, which for the first time establishes specific guidelines for technological platforms and suppliers of virtual asset services.
The regulations establish three fundamental principles: responsible innovation, interoperability and confidentiality. It also creates a national registry for companies that offer cryptocurrency services, requires cybersecurity protocols and enables test spaces to evaluate innovative business models.
More than 200 companies – including 33 payment platforms and 176 cryptoactive service providers— They must comply with the new regulatory framework before December 31, 2025.
However, in the midst of these regulatory advances, concerns about citizen rights were recently emerged. According to the national deputy and activist in digital finance, Mariela Baldivieso, the Public Ministry proceeded to apprehend a content creator simply for broadcasting information about the value of the dollar anchored to USDT, after a complaint filed by the ASFI.
Given this fact, the official said His concern for what he considers disproportionate and arbitrary action, which doubts the fulfillment of due process and the fundamental principles of the rule of law.
Baldivieso said that, although virtual assets have regulatory recognition and authorization in Bolivia, It is alarming to criminalize a citizen for referring to a cryptocurrency whose value was even officially released by the Central Bank of Bolivia. According to what was mentioned by the deputy, the citizen was charged with “disseminating false financial information.”
From cryptootics we contact Deputy María Baldivieso to obtain additional comments and we are waiting for her response.
