The Central Bank of Bolivia signed an agreement with CNAD to build a legal framework, with crypto transaction volume increasing from 46.5 million to 294 million USD.
The Central Bank of Bolivia (BCB) and the National Commission on Digital Assets of El Salvador (CNAD) have officially signed a bilateral cooperation agreement to promote the development of the crypto asset market in Bolivia. This move comes amid Bolivia's strong growth in crypto transaction volume after officially legalizing activities related to virtual assets.
According to the agreement's content, the two agencies will coordinate to share expertise and jointly develop technical initiatives as well as legal frameworks related to digital assets. The overall goal is to build a safe and tightly regulated crypto market in Bolivia while enhancing the attractiveness of the country to both domestic and international investors.
Cooperation between the two countries will focus on the application of blockchain analysis technology, the development of risk assessment tools, and the exchange of experiences in building a legal framework. El Salvador, as a pioneer country in the field of digital assets, will share expertise on establishing a digital asset ecosystem and developing an appropriate legal framework.
The agreement was signed by Juan Carlos Reyes García, President of CNAD, and Edwin Rojas Ulo, Acting President of BCB, effective immediately upon signing without a specified end date. Mr. Ulo emphasized that the development of digital assets is seen by the Central Bank of Bolivia as an important tool to modernize the financial system and expand access to financial services for both the public and small businesses.
Impressive growth after legalization
The decision to cooperate with El Salvador stems from the positive results that Bolivia has achieved after officially legalizing crypto activities. According to data from the Central Bank of Bolivia, since the issuance of Resolution No. R.D. №082/2024, the volume of crypto asset transactions in this country has skyrocketed from 46.5 million USD in June 2024 to 294 million USD in June 2025, equivalent to a growth rate of over 530% in just one year.
This growth indicates a significant latent demand in the Bolivian market for digital assets and the potential for robust development when there is a clear legal framework. Legalization not only creates a stable legal environment for investors but also opens up opportunities for access to modern financial services for the unbanked population.
El Salvador provides Bolivia with a valuable reference model for developing a digital asset ecosystem. As the first country in the world to accept Bitcoin as legal tender in September 2021, El Salvador has accumulated rich experience in building policies and legal frameworks for this sector.
However, El Salvador's journey has not been without challenges. By 2024, the country had to adjust part of its Bitcoin policy to meet the requirements of the International Monetary Fund in the context of loan negotiations. This experience will help Bolivia have a more balanced view of both the opportunities and risks when developing the digital asset market.