Bolivia Bans Crypto Use for Fuel Purchases by State Oil Company

Bolivia's President Arce issues a decree prohibiting the state-owned oil company YPFB from using cryptocurrencies to purchase fuel. The decree, announced on May 23rd, 2025, aims to curb speculation and ensure transparency in the country's fuel market. While President Arce confirmed that YPFB had never conducted such transactions, the decree serves to address public concerns and dispel any lingering uncertainty. "This decree clarifies our position and prevents any future misuse of crypto assets in the procurement of fuel," President Arce stated in a recent press conference. The move underscores the Bolivian government's commitment to maintaining economic stability and responsible financial practices. The decree is expected to enhance public trust and solidify the government's commitment to transparency in state-owned enterprises.