Bolivia to allow the use of cryptocurrencies for fuel purchases
Amid an internal crisis due to a lack of dollars affecting Bolivia's economy, the government authorized the state-owned energy company YPFB by decree to use cryptocurrencies to pay for energy imports
The Bolivian government issued a decree authorizing the state-owned energy company YPFB to use cryptocurrencies to pay for energy imports, particularly gasoline and diesel.
The South American country is currently experiencing an internal crisis due to a lack of dollars, which is affecting the energy sector. Cryptocurrencies are emerging as an alternative payment mechanism, in which the government sees a way to “guarantee the fuel supply nationwide.”
In this regard, the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) will be able to “acquire foreign currency through the national financial system, as well as opt for cryptocurrencies for gasoline, diesel, and additive imports,” according to Decree 5348 of March 10, published in the Official Gazette.
The authorization refers to “operations with virtual assets for the purchase of crude oil, diesel, and inputs and additives for producing base and/or specialty gasoline.”
M.Pino
Source: diariobitcoin
(Reference image: Kanchanara on Unsplash)
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