Bolivia Backs Away from Crypto-for-Fuel Scheme
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Bolivia has retreated from its recent push to adopt digital assets as a workaround for dollar shortages. The initial plan, announced in March by the state-owned energy giant YPFB, aimed to use crypto to secure fuel imports due to acute shortages of both US dollars and refined fuel. However, the Director of Trade and Imports, Marcos Duran, clarified in a statement released Tuesday that YPFB will not be permitted to use crypto for international transactions and must instead use Bolivia’s own resources and dollar-based financial transfers.
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