On Wednesday, Bolivia’s central bank made a significant announcement regarding the country’s approach to cryptocurrency adoption. The Central Bank of Bolivia (BCB) signed a formal agreement with El Salvador’s digital asset regulator, the Comisión Nacional de Activos Digitales (CNAD), marking a crucial step towards developing a legal and technical framework for digital assets in Bolivia.
Under the terms of the memorandum of understanding, the BCB and CNAD will collaborate on various crypto policy initiatives. This includes working together on blockchain intelligence tools, regulatory frameworks, and risk analysis models. The agreement, which is open-ended and effective immediately, signals a proactive approach by Bolivia towards embracing cryptocurrencies.
The decision to formalize this partnership comes as digital asset transaction volume in Bolivia has seen a significant increase. From $46.5 million in June 2024 to $294 million in June 2025, the growth has been more than sixfold. This surge follows the passage of Decree No. 082/2024, which expanded the use of cryptoassets in the country.
Drawing on El Salvador’s pioneering efforts in adopting bitcoin as legal tender and establishing a digital asset regulatory system, Bolivia aims to leverage CNAD’s expertise. The agreement, signed by BCB Acting President Edwin Rojas Ulo and CNAD President Juan Carlos Reyes García in La Paz, focuses on sharing best practices to create a transparent, inclusive, and well-regulated digital asset ecosystem in Bolivia.
While Bolivia has traditionally approached cryptocurrencies with caution, the new agreement symbolizes a shift towards gradual regulatory engagement rather than strict restrictions. By partnering with El Salvador, Bolivia seeks to modernize its financial infrastructure, ensure stability, and foster innovation in the digital asset space.
This collaboration aligns Bolivia with a growing trend of countries exploring tailored crypto regulations in response to increasing adoption, particularly in Latin America. It also reinforces El Salvador’s position as a regional leader in integrating cryptocurrencies at an institutional level.