Tax ambiguity generates insecurity for startups and retailers.
Exchanges like Binance function with out native registration, however want alliances to formalize.
Bolivia has established itself as one of many Latin American nations that’s advancing the quickest within the adoption of cryptocurrencies, to the purpose of being among the many 20 markets with the best international development in response to latest reviews from Chainalysis.
This silent however sustained rise has sparked curiosity: What is absolutely taking place within the highlands? To know the present state of the Bolivian ecosystem, CriptoNoticias spoke with Mauro Alejandro Chirinos, president of the Bolivian Blockchain Affiliation (Asoblockchain) and a frontrunner in the local people.
Chirinos defined that the trail of cryptocurrencies in Bolivia has been lengthy and tortuous, marked by comings and goings. In 2010, the Central Financial institution of Bolivia (BCB) expressly prohibited – a measure strengthened in 2020 via Decision 144 – using fee gateways with cryptoassets with the purpose of stopping fraud.
Nonetheless, in June 2024, via Board Decision 082, that prohibition was lifted. This 180-degree flip, motivated by the profound trade disaster and the persistent scarcity of {dollars}, enabled digital transactions with digital belongings. The consequence was fast, since between July 2024 and Might 2025 the buying and selling quantity skyrocketed by 630%, reaching $294 million within the first half of 2025 alone.
Underneath the federal government of Luis Arce, Supreme Decrees 5348 and 5384 (issued in January and Might 2025, respectively) transferred the accountability of regulating digital asset and fintech service suppliers to the Monetary System Supervision Authority (ASFI), culminating in ASFI Decision 540/2025 in July.
“With this supreme decree, what turns into the difficulty of regulation by them, particularly digital asset service suppliers, but additionally monetary know-how firms,” Chirinos defined through the interview, highlighting how this regulation describes key ideas akin to digital belongings, tokens, stablecoins, however with out closing all regulatory loopholes, akin to tax.
Does Binance want an area accomplice in Bolivia?
One of many primary ambiguities, in response to Chirinos, is that international firms or international cryptocurrency exchanges should type some kind of alliance with an area entity to formally set up themselves.
Nonetheless, underneath sure circumstances they could stay accessible to Bolivian customers with out native registration. This leaves residents in a weak place. It is because, since they aren’t supervised by the ASFI, the platforms don’t provide the identical ensures or safety mechanisms as an area regulated entity. A proven fact that exposes customers to dangers within the occasion of fraud, hacking or chapter.
A key ambiguity of the regulation is that international firms akin to Binance or BitGate should type alliances with native entities to formally set up themselves; They can’t function independently. Fintech startups, for his or her half, enter a regulatory sandbox—a managed testing setting—the place they’re registered and evaluated, though the method isn’t fully clear.
Mauro Alejandro Chirinos, president of Asoblockchain Bolivia.
Nonetheless, international platforms aren’t required to type or type alliances if they don’t preserve alliances with native entities. They’ll function freely accessible to Bolivian customers (for instance, through apps or internet), so long as they don’t provide joint companies with native ETFs or violate anti-money laundering laws.
Based on Chirinos, this explains why exchanges like Binance stays obtainable in Bolivia with out native registration, but when they wished a department or a proper collaboration settlement, they’d fall into the realm of obligatory alliances.
Different ecosystem analysts akin to Alison Berbetty, from the Bolivian Chamber of BlockchainCablock, criticize the dearth of transparency within the analysis standards. «What occurs if the regulator doesn’t have skilled groups? What are the precise thresholds for passing a take a look at? Berbetty asks.
This ambiguity is seen as a component that would turn out to be a “discretionary filter” that slows down innovation, particularly for small international startups curious about alliances.
Taxes, a pending concern for cryptocurrencies in Bolivia
Moreover, Chirinos places his finger on a key sore level by declaring that the ASFI laws (Decision 540/2025) doesn’t deal with taxes for crypto belongings or fintechleaving this facet in limbo. That is deliberate within the sandbox, designed as a “testing setting” to experiment underneath Bolivian laws with out fast tax burdens, encouraging innovation.
As he implies, the questions stay as to how do startups declare income throughout testing? Do common taxes (akin to VAT or Monetary Transaction Tax) apply to P2P transactions with stablecoins like USDT, which dominate 86% of cryptocurrency operations in Bolivia? And not using a particular tax framework, informality persists, and that’s the reason warns of a “problematic hole” in accounting and finance.
For the brand new authorities of Rodrigo Paz Pereira (taken workplace in November 2025), closing these gaps—with fiscal guides and clear standards—might rework the grey space right into a stable bridge. To realize this, Chirinos promotes mass training by 2026. He says that with out consideration to those parts, “working legally” stays half achieved, exposing customers and entrepreneurs to pointless dangers.
