Bolivian Minister Denies Large-Scale Crypto Use by YPFB for Fuel Purchases

Bolivia's YPFB Cryptocurrency Use: Minister Clarifies Fuel Purchase Rumors La Paz, Bolivia – Recent reports alleging that Bolivian state oil company YPFB used cryptocurrencies to purchase fuel have prompted a response from Defense Minister Edmundo Novillo. In an interview with Red Uno, Novillo addressed the speculation, stating, "Yacimientos no compró criptomonedas...no los adquirió en el mercado paralelo para comprar combustible." He clarified that while YPFB may have made some cryptocurrency transactions during emergencies, these were not significant in scale. The interview included visuals of cryptocurrency market data, providing context to the discussion. Novillo emphasized that YPFB's fuel acquisition strategy did not rely substantially on cryptocurrencies. His statements aim to dispel rumors and assure the public of the government's transparency in its fuel procurement strategy. The incident highlights the growing interest in and use of cryptocurrencies, even in unexpected sectors like state-owned energy companies.