The Central Bank of Bolivia (BCB, for its acronym in Spanish), by means of press release CP 35/2024, dated June 26 of this year, informed the population that, by means of Board Resolution N° 82/2024 dated June 25, it had rescinded Board Resolution N° 144/2020, to enable Electronic Payment Instruments (IEP, for its acronym in Spanish) for the sale and purchase activities of virtual assets.
The BCB's decision was made in coordination with the Financial System Supervisory Authority (ASFI, for its acronym in Spanish) and the Financial Investigations Unit (UIF, for its acronym in Spanish), taking into consideration the evaluation made by GAFILAT at the beginning of this year, where they suggested that the opening of Virtual Assets Services should be considered.
Under this premise, both the ASFI and the FIU, within the framework of their faculties, committed themselves to control the Financial Intermediation Entities and apply preventive measures against possible suspicious activities related to the legitimization of illicit profits and financing for terrorism.
Likewise, the BCB emphasized that the legal currency is the Boliviano, and that the operations carried out in crypto-assets are and will be the sole and entire responsibility of the users of such assets, and that the population is not obliged to accept these types of payments.