Thursday, September 29

The Central Bank of Bolivia reiterates its position against cryptocurrencies By Cointelegraph


©Reuters. The Central Bank of Bolivia reiterates its position against cryptocurrencies

On January 10 of this month, the Central Bank of Bolivia (BCB) through a public statement reiterated the prohibition of the use of cryptocurrencies within the national territory for commercialization and negotiation in the form of payment.

In the statement, the public institution mentioned that “Board Resolution No. 144/2020 dated December 15, 2020” is still in force, the same one that was issued for the same purpose, “to avoid risks, fraud and deceit to the population in general” was expressed in the statement.

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However, despite its use being illegal, according to what is stated in the resolution, no type of sentence is specified for whoever makes use of digital assets and that is also verified. Similarly, it is specified that “Financial entities are prohibited from processing payment orders for crypto-asset purchase and sale operations”, “Associating or linking Electronic Payment Instruments authorized by the BCB to crypto-assets is prohibited” among others.

Read the full article on Cointelegraph

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