tl;dr
Bolivia's President Luis Arce lifted the country's crypto ban, citing dollar and fuel shortages. The Central Bank of Bolivia now allows the use of virtual assets through Electronic Payment Instruments, but the boliviano remains the only legal currency. The move aims to address macroeconomic challeng...
Bolivia's President Luis Arce has lifted the country's crypto ban in response to dollar and fuel shortages, allowing the use of virtual assets through Electronic Payment Instruments (EPI) while reaffirming the boliviano as the only legal currency. This move aims to modernize the understanding of new financial technologies and address macroeconomic challenges. However, potential benefits such as attracting foreign investment, facilitating remittances and e-commerce, come with systemic risks such as currency devaluation and regulatory disruptions.
The Central Bank of Bolivia (BCB) has stressed that the boliviano remains the only legal currency and launched a comprehensive training program to educate various sectors about virtual assets, emphasizing their conceptual aspects, characteristics, regulatory aspects, security, and risks. The lifting of the crypto ban, in place since 2020, is expected to mitigate the lack of foreign currency caused by the fall in gas exports, the country's main income source until 2021.
From a macroeconomic perspective, lifting the crypto ban could attract foreign investment, benefit remittances, and e-commerce, and potentially offer a more stable store of value in the context of inflation and devaluation of the local currency. However, it also poses systemic risks such as destabilizing the balance of payments and disrupting the credit market, which could worsen the economic crisis and increase financial uncertainty.
More about United States Steel Corporation
Company: United States Steel Corporation
Business Focus: Manufacturing, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Headquarters: Pittsburgh, Pennsylvania
Revenue: $8,757,907,000
Stock Price: $11.26
Price Change: $0.2
Price Change (%): 3.46%
Relative Strength Index (RSI): 79.23
Bollinger Bands: 0.0489
Market Cap: $17,743,000,000
50-Day Moving Average: $38.25
50-Day Moving Average Change: -$0.129
200-Day Moving Average Change: -$0.069