In a landmark shift, Bolivia has signed a formal cooperation agreement with El Salvador’s Comisión Nacional de Activos Digitales (CNAD) to establish a robust digital asset regulatory system. This move reflects Bolivia’s evolving stance on cryptocurrency amid rising transaction volumes and growing public interest in blockchain technologies.
Bolivia’s Crypto Activity Surges 530% in 12 Months
Crypto transaction volume in Bolivia surged from $46.5 million to $294 million over the past year, a dramatic increase that has prompted officials to rethink the nation’s cautious approach to digital assets.
Until recently, Bolivia maintained strict limits on crypto usage. However, the growth in decentralized financial activity—particularly among underserved populations—has highlighted the need for regulatory clarity rather than restriction.
El Salvador’s Bitcoin Leadership Offers a Blueprint
El Salvador, the first country to adopt Bitcoin as legal tender, is now exporting its regulatory expertise. The CNAD was established following El Salvador’s 2021 Bitcoin Law and is tasked with overseeing token offerings, supervising crypto platforms, and registering digital asset service providers.
Through the new agreement, Bolivia aims to learn from El Salvador’s experience, applying proven strategies to create transparent, inclusive, and stable digital asset frameworks.
Formal Agreement Signed to Share Best Practices
The cooperation agreement was signed in La Paz by BCB Acting President Edwin Rojas Ulo and CNAD President Juan Carlos Reyes GarcĂa. It outlines commitments to exchange regulatory tools, monitoring systems, and legal frameworks, while also supporting Bolivia’s efforts to modernize financial infrastructure.
Officials from both countries emphasized the importance of fostering innovation without compromising financial stability. The partnership aims to empower communities with limited access to traditional banking systems by encouraging safe, compliant crypto adoption.
A Turning Point in Latin American Crypto Policy
Bolivia’s move toward regulated crypto engagement marks a strategic pivot in Latin American digital finance. By collaborating with El Salvador, Bolivia is signaling its intent to join a broader movement toward mainstream blockchain integration and digital financial inclusion.
This agreement may set the stage for other emerging economies to pursue similar partnerships in building their own crypto governance frameworks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.