Bolivia weighs USDT payments amid dollar shortage

• Bolivia is considering allowing Tether (CRYPTO:USDT) in its national payment system.
• The proposal aims to ease the country's shortage of US dollars.
• The government said it is still reviewing the plan and has not announced a launch date.

Bolivia is considering adding Tether (CRYPTO:USDT) to its national payment system as the country continues to face a shortage of US dollars.

Economy Minister José Gabriel Espinoza said the government is studying whether USDT could be used alongside the boliviano and the US dollar for payments, savings, and trade.

“The idea is for USDT to circulate as just another currency,” said Economy Minister José Gabriel Espinoza.

The government said any proposal would include anti-money laundering controls, and no timeline has been announced while the technical review continues.

Bolivia lifted restrictions on cryptocurrency transactions in 2024, and the government has since expanded access to crypto-related financial services.

The proposal follows a sharp decline in Bolivia's foreign currency reserves and an ongoing shortage of US dollars across the economy.

If approved, the plan would allow USDT to be used more widely for everyday payments, although the government said the proposal remains under review.