The Bolivian economy is facing a dollar scarcity period due to its fixed exchange rate policy, leading to a surge in parallel dollar markets with rates 40% higher than the official rate. To address this, a proposal for implementing a USDT index has been presented to a national senator. This index would legalize the parallel rate through equivalence with USDT's price in fiat currency or use the stablecoin itself for settlements, potentially unblocking over 5 billion bolivianos in projects to re-energize the economy. Bolivia has also seen a resurgence in crypto adoption since lifting the blanket ban on using traditional payment rails for crypto trade transactions.
Weekly Analysis Of The Cryptocurrency Market: Altcoins Surpass Previous Highs As Bulls Buy Every Dip