The Central Bank of Bolivia announced in its statement that it lifted the ban on Bitcoin and other cryptocurrencies.

BTC ban lifted BWith this move, the Central Bank of Olivia allowed financial institutions to conduct cryptocurrency transactions.

The Central Bank of Bolivia said in a statement that the move was taken to revitalize Bolivia’s troubled economy and bring it into line with cryptocurrency regulations in Latin America.

The Central Bank of Bolivia has warned its citizens that Bitcoin and cryptocurrencies are not “legal tender” despite the ban being lifted, and that Bolivia’s only legal currency is Bitcoin. “Bolivian Boliviano” He stated that it was.

Therefore, although the Bolivian government allows cryptocurrencies to be bought and sold through banks, it emphasized that it does not recognize them as legal tender, reminding investors that they need to manage their own crypto risks.

In recent years, many Latin American countries have been struggling with a bad economy and rising inflation. The Savior, It became the only country in Latin America and the world to adopt Bitcoin as legal tender.

Argentina, one of the Latin American countries, is following in the footsteps of El Salvador.

*This is not investment advice.

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