TechFlow, May 29 — According to Bitcoin.com, Bolivian President Luis Arce signed an executive order prohibiting the use of crypto assets for energy procurement settlements. The order, issued on May 23, primarily targets state-owned oil company YPFB and aims to curb speculative activities involving cryptocurrencies and stablecoins on exchanges such as Binance.
YPFB President Armin Dorgathen stated that the company has never previously used cryptocurrencies for transactions, citing limited acceptance of crypto assets in the oil industry and an inadequate regulatory framework. Earlier reports suggested YPFB had considered using cryptocurrencies for energy payments due to foreign exchange shortages, but this executive order eliminates such possibilities in the short term.
