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 that was issued for the same purpose, “avoid risks, fraud and deception to the population in general” was expressed in the statement.
But nevertheless, Despite the fact that its use is illegal, according to what is stated in the resolution, no type of sentence is specified for whoever makes use of the assets. digital and also check. 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.
What’s more, The Central Bank of Bolivia also recalls that since cryptocurrencies are not recognized at the judicial level, they can be used without any hindrance in illicit activities that are punishable by law.. On the other hand, he also touched on the issue of private entities, mentioning that “private initiatives related to the use and marketing of these crypto assets cannot be channeled through the Bolivian financial system since they do not have the authorization of the BCB or the Authority. Supervision of the Financial System (ASFI)”
As mentioned above, this limitation on the free use of crypto assets within Bolivian territory is not a matter of now, since It is not the first time that such information has been reiterated. since in the middle of the year 2021 the Central Bank of Bolivia also came out to give statements as a reminder in this regard.
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