Presidential Platform Includes Blockchain Integration and Digital Asset Regularization
Rodrigo Paz has secured Bolivia's presidency with 54.5% of the vote in the recent runoff election, defeating Jorge Quiroga who garnered 45.5%. The president-elect's government platform outlines specific proposals for blockchain technology and digital assets, as he prepares to assume office on November 8.
Paz's Partido Demócrata Cristiano platform pledges to implement blockchain technologies and smart contracts within public procurement processes. This initiative aims to eliminate discretion in state purchasing by automating contract procedures through blockchain systems, targeting corruption in government procurement as part of broader reform efforts.
A second crypto-related proposal from the president-elect involves establishing a program that would allow citizens to declare digital assets into a new foreign-exchange stabilization fund. This asset regularization drive explicitly includes cryptocurrency holdings. Such stabilization funds function as reserve pools designed to steady currency values and finance essential imports during periods of U.S. dollar scarcity.
The inclusion of cryptocurrency broadens the government's capacity to tax or swiftly convert holdings into hard currency, without the necessity of maintaining volatile tokens long-term. Paz's platform positions blockchain as an anti-corruption tool while treating declared crypto assets as part of a one-time regularization initiative. There is no indication of plans to adopt Bitcoin at the national level, hold it in reserves, or implement retail legalization.
Regulatory Shifts and Real-World Adoption of Digital Assets in Bolivia
Bolivia's central bank, Banco Central de Bolivia, lifted its operational ban on crypto transactions in June 2024. This policy adjustment authorized regulated electronic channels and signaled a move towards payment modernization. Following this regulatory change, average monthly digital asset trading volumes doubled compared to the preceding 18-month average.
The trend extended into Bolivia's real economy throughout 2024 and 2025. Banco Bisa launched USDT custody services for institutions in October 2024, marking the first Bolivian bank to offer such services. Amidst U.S. dollar scarcity in March, the state oil firm YPFB explored the use of crypto for energy imports. Major auto distributors, including Toyota, Yamaha, and BYD, began accepting USDT by September, demonstrating growing merchant adoption.
Bolivia's central bank signed a memorandum of understanding with El Salvador on July 31, recognizing cryptocurrency as a viable and reliable alternative to fiat currency. This agreement committed both nations to cooperation on policy and intelligence tools aimed at modernizing payments and enhancing financial inclusion. According to bank data, monthly crypto trading volumes reached $46.8 million per month and $294 million year-to-date by June 30.
Economic Context and Pragmatic Approach to Digital Assets
Paz won the election on a centrist, pro-market platform and will inherit an economy grappling with fuel shortages and U.S. dollar constraints. His approach to digital assets is pragmatic, viewing them as tools for transparency and economic stabilization rather than instruments of revolutionary monetary policy.