Country overview

#127
Bolivia

Country stats

Rating Points
50
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
0%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
0
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
100 000
Total amount of crypto users out of the country's total population based on public data.
Taxation points
15
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
0
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Ban
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
Ban
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Considerable danger
The overall level of security in a given country based on open data.
Crypto Salaries
No info
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No info
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
No info
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
No licenses exist
Good
Medium
Bad
intro

This is general info about crypto regulation in Bolivia. A more precise overview will be published later. However, if you find any inaccuracy or have other feedback - please write us in telegram @ilya_ii or by e-mail - editor@cryptopenetration.com

Bolivia is an independent country located in South America. Based on Wikipedia (1) its population is 12 million people and its area is 1 million km2.

There are no digital nomad visas in Bolivia. Based on Visaguide (2) citizens of most countries do not need a visa to Bolivia if they want to stay in the country less than 90 days. But if a stay exceeds 90 days, visitors need to get an entry visa.

Security level
Crypto Payments

  Cryptocurrencies in Bolivia (6) are prohibited at the legislative level, therefore payments made in cryptocurrencies are also prohibited.  

Crypto Salaries

Banned as a form of crypto payments.

Legal

In 2014 the Central Bank of Boilivia (BCB) has issued issued (6) the first crypto ban. In 2022 the Cenral Bank of Bolivia has confirmed (7) crypto ban. The exact statement (8) is that:

“As cryptoassets are not a legal tender in [Bolivia], the BCB prohibits their use, as well as their commercialization and [purchase], because they [incur] potential risks of generating economic losses to their operators and holders.”

However, in August 2023 local politician Mariela Baldivieso has proposed an initiative (9) to legalize crypto in Bolivia.

Taxation

  The headline CIT (10) rate is 25% (except for mining, financial institutions, and insurance or reinsurance companies, which have an additional income tax rate). The headline PIT rate is 13%. Capital gains are subject to the normal CIT rate.  

Links

1)👉🏻Bolivia. Wikipedia

2)👉🏻Bolivia Visaguide

3)👉🏻Crime Index by Country 2023 Mid-Year

4)👉🏻List of countries by intentional homicide rate

5)👉🏻List of countries by firearm-related death rate

6)👉🏻Bolivia prohíbe totalmente el uso de bitcoin LibreMercado

7)👉🏻Banco Central boliviano ratifica la prohibición del uso y comercialización de criptomonedas Telam

8)👉🏻Bolivian Central Bank ‘Bans’ Crypto Cryptonews

9)👉🏻Proponen iniciativa para nueva normativa sobre criptomonedas en Bolivia Cointelegraph

10)👉🏻 Bolivia. PWC Overview