The firms Iver von Borries and Javier Romero Mendizábal, in Bolivia, presented to the Senate the proposal to legally recognize the Tether index for financial operations due to the difficulty of maintaining the local currency, the boliviano, in the framework of the current economic situation.

However, the proposal would require a modification of Law 2434, which allows the legal recognition of the stablecoin Tether ETH, “which already appears on the electronic board of the Central Bank of Bolivia (BCB), as a valid reference index, to be used in the indexing of contracts and financial operations.”

If this bill is approved by the Bolivian Legislative Assembly, it would provide legal security to the parties to a contract in Bolivia, in addition to the possibility of “ensuring greater flexibility and modernization of contractual and financial practices in the country.”

M.Pino

Source: cointelegraph

(Reference image source: Kanchanara on Unsplash)

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