Bolivia Bans YPFB From Virtual Asset Transactions

Bolivia’s government has issued a decree prohibiting the state-owned company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) from engaging in virtual asset transactions, according to news outlet PANews. This move seeks to address rumors about YPFB’s involvement with cryptocurrencies and stabilize currency exchange rate expectations. Simultaneously, President Luis Arce unveiled a series of economic measures to curb price speculation and mitigate fuel supply disruptions. These actions followed the decree and resulted in a substantial decrease in the parallel market rate for the digital dollar, dropping from 20 Bolivianos to 15.89 Bolivianos.