USDT Goes Mainstream In Bolivia As Gov’t Approves Crypto Banking
Bolivia has moved to bring stablecoins into its formal banking system, a shift that could change how people save and pay for things in the country. Banks will be allowed to offer accounts, custody and payment services tied to stablecoins such as USDT, government statements and local reports disclosed. The move follows a sharp rise in crypto use as people seek ways to hold dollar-pegged value amid currency pressure. Related Reading: Bitcoin Faces More Downside After Recent Crash, Data Shows Banks To Offer USDT Accounts Reports have disclosed that Economy Minister Jose Gabriel Espinoza....
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Bolivia is one of the rare countries that has essentially banned cryptocurrency, but the nation's blockchain advocates aren't giving up.
BitInka, a bitcoin platform that operates in Peru, Venezuela, Bolivia and Brazil will soon expand its services throughout Argentina, Colombia and Chile, to become South America's first universal bitcoin platform targeted for the unbanked. Founded in 2013 by Roger Gabriel, BitINKA is one of the only companies in South America which implemented bitcoin trading to create a bitcoin exchange that allows its users to convert/withdraw bitcoin for many local currencies of South America, including the Peruvian Nueva Sol and the Argentinian peso. Through its international and instant bitcoin....
Here's an unfortunate news item. It's being reported that El Banco Central de Bolivia - the Bolivian Central Bank - has banned any form of currency or coin not issued or regulated by the Bolivian government, reports CoinDesk. This, of course, would include bitcoin and similar digital currencies like "Bitcoin, Namecoin, Tonal Bitcoin, IxCoin, Devcoin, Freicoin, 10coin, Liquidcoin, Peercoin, Quark, Primecoin, and Feathercoin." The news was reported originally by the PanAm Post, who points to a resolution dated May 6th "which prohibits the use of coins specifically not issued or regulated by....
In a recent interview with CNN “State of the Union,” New York mayor elect Eric Adams says cryptocurrency should be taught across the globe. This comes as many mainstream initiatives in crypto begin to boom. Will we see a future with crypto as the head of the economic snake? A Look Into Adams’ Interview With […]
Widespread acceptance of Bitcoin and cryptocurrencies suffered another blow this week when El Banco Central de Bolivia outright banned any currency or coins that were not either issued by or regulated through the government. The bank specifically mentioned Bitcoin, Quark, Peercoin, Namecoin, Primecoin and Feathercoin in the announcement but the statement seemed to include all cryptocurrencies. The policy actually went into affect but the announcement did not surface for general consumption until PanAm Post, a Spanish language media outlet, released the news. The statement from the central....