Bolivia Bans State Oil Company From Using Crypto for Energy Settlements

Bolivia, a country that has recently shown several positive signs of integrating crypto into its payments and financial systems, has prohibited the use of crypto for settling energy-related purchases.

This measure is part of a series of economic actions aimed at curbing speculation on cryptocurrency exchanges like Binance.

Executive Order 5399, which bans YPFB, the state-owned oil company, from purchasing crypto to settle payments, was enacted on May 23 after the rise of the price of stablecoins in parallel markets as traders tried to front-run the company in a for-profit dollar trade.