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Bolivia’s Central Bank has signed a memorandum of understanding with El Salvador’s National Commission of Digital Assets to promote crypto development, marking a dramatic policy reversal for a nation that previously banned virtual assets and now calls them a “ reliable alternative ” to traditional currencies. The cooperation agreement enables mutual information exchange and knowledge sharing on blockchain intelligence tools, risk analysis, and regulatory experiences between both institutions. Source: Press Release Bolivia’s Virtual Asset Usage Explodes 532% in One Year Bolivia’s virtual asset usage surged from $46.5 million to $294 million between June 2024 and June 2025 following regulatory changes. Source: Reuters The partnership comes into effect immediately for an indefinite period. This positions Bolivia to benefit from El Salvador’s pioneering regulatory framework and practical experience as the world’s first country to adopt Bitcoin as legal tender. El Salvador’s CNAD has become a fundamental actor in the global digital assets ecosystem. Bolivia’s embrace of cryptocurrency contrasts sharply with its historical stance, having previously maintained strict prohibitions on virtual assets before implementing Board Resolution 082/2024 in June 2024. The policy shift enables legal use of virtual assets for cross-border transactions and e-commerce payments. The agreement consolidates progress made in establishing digital assets as viable alternatives for families and small entrepreneurs. At the same time, Bolivia’s Central Bank commits to developing policies that modernize the financial system and deepen financial inclusion through regulated cryptocurrency ecosystems. El Salvador’s experience provides valuable guidance despite recent International Monetary Fund restrictions that have capped the country’s Bitcoin purchases and mandated privatization of the state-run Chivo wallet by July 2025. Bolivia’s Cryptocurrency Revolution Gains Momentum Earlier this year, the Central Bank of Bolivia authorized state oil company YPFB to use cryptocurrency for purchasing crude oil and diesel from international vendors in March 2025. They aimed to address foreign currency shortages that created fuel supply disruptions across the country. President Luis Arce’s cabinet granted YPFB permission to conduct fuel import deals using either USD or cryptocurrency, with Bolivia requiring at least $60 million weekly for fuel imports. The decree instructs YPFB to make budgetary adjustments covering financial costs within applicable regulations. Bolivia’s cryptocurrency adoption has accelerated rapidly, with virtual asset transactions exceeding 1.1 million from July to September 2024 , compared to 932,000 in the six months before then. Six financial institutions began operating with virtual assets, reporting 40% growth in operations between July and August. The Central Bank launched educational initiatives, conducting over 33 workshops nationwide, reaching more than 3,000 participants to inform the public about virtual asset characteristics and risks. The legal framework enables Bolivians to use cryptocurrency for cross-border transactions and e-commerce payments. The partnership with El Salvador provides technical expertise for developing secure and regulated cryptocurrency ecosystems. Source: Press Release Bolivia joins a growing number of countries using cryptocurrency for international trade, particularly those seeking alternatives to traditional banking systems amid sanctions or political tensions. El Salvador’s Bitcoin Model Faces IMF Constraints El Salvador maintains approximately 6,244 Bitcoin worth $742 million despite IMF loan agreement restrictions preventing new government purchases since February 2025. The $1.4 billion loan program requires the country to maintain unchanged Bitcoin holdings and privatize the Chivo wallet. President Nayib Bukele’s previous claims of daily Bitcoin purchases have been contradicted by IMF documentation confirming no new acquisitions since the loan agreement. On-chain activity showing Bitcoin movements between wallets represents internal transfers rather than fresh purchases. The IMF praised El Salvador’s updated Bitcoin policy for reducing fiscal risk and strengthening transparency, noting these steps help stabilize inflation and restore macroeconomic stability. However, Bitcoin is no longer considered mandatory legal tender under the agreement. ⚠️ El Salvador’s Bitcoin experiment appears to be faltering under the weight of an IMF loan agreement and declining public engagement. #IMF #ElSalvador https://t.co/65lADRixOH — Cryptonews.com (@cryptonews) July 26, 2025 El Salvador’s CNAD has consolidated its position as a regional leader in cryptocurrency regulation, promoting innovation, security, and regulatory compliance throughout the digital assets sector. The country’s regulatory framework remains among the most developed and advanced in promoting virtual assets globally. The My First Bitcoin organization reported that government-backed education and adoption efforts have stalled since the IMF deal , with declining public engagement in cryptocurrency learning programs. The shift has raised questions about the long-term viability of El Salvador’s original Bitcoin vision.

The Securities and Exchange Commission (SEC) has established new listing standards for cryptocurrency exchange-traded products that could clear the path for approximately a dozen major digital assets to gain ETF approval by October. The CBOE filing reveals that any cryptocurrency with futures contracts trading on designated markets for at least six months would automatically qualify for ETP listing under the new Generic Listing Standards framework. The new rule allows an issuer's shares to be listed on an exchange if the underlying commodity to which exposure is given has a contract on a Designated Contract Market for at least 6 months. pic.twitter.com/zd5rDdCxPg — Greg Xethalis (@xethalis) July 30, 2025 CFTC Becomes Crypto ETF Gatekeeper as SEC Shifts Approval Authority The breakthrough comes after months of regulatory uncertainty that saw the SEC both approve and immediately reverse decisions on multi-asset crypto ETFs. Eric Balchunas noted that the eligible tokens include “ the usual suspects ” that previously held 85% or higher approval odds, with September and October emerging as the likely approval timeline for pending applications. The SEC's "Listing Standards" for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase's derivatives exchange would be approved (below is list). It's about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM — Eric Balchunas (@EricBalchunas) July 30, 2025 The new standards effectively outsource ETF approval decisions to the Commodity Futures Trading Commission, which oversees futures market designations. The framework requires no specific market capitalization, underlying liquidity, or float percentage requirements, only the existence of qualifying futures contracts. Among the eligible cryptocurrencies are Bitcoin , Ethereum , Solana , XRP , Cardano , Avalanche , Chainlink , Litecoin, Polkadot, Dogecoin , Stellar, and Shiba Inu. Solana ETPs face an October 10 approval deadline, with XRP following shortly after as their respective futures contracts reach the six-month threshold. The developments build on significant momentum in the crypto ETF space. Spot Bitcoin ETFs have accumulated $55.11 billion in cumulative inflows with $151.36 billion in assets under management. Source: SosoValue Ethereum ETFs reached $21.5 billion in assets, representing 4.7% of Ethereum’s market capitalization, following 19 consecutive days of net inflows totaling over $9 billion. Regulatory Framework Streamlines Approval Process The CBOE’s Generic Listing Standards filing eliminates the traditional 19b-4 rule change process that previously required individual exchange applications for each crypto ETP. Under the new framework, qualifying products could receive approval after a 75-day review period, dramatically reducing time-to-market for issuers. The SEC voted on July 29 to approve in-kind creation and redemption mechanisms for crypto ETPs, allowing authorized participants to exchange shares for underlying cryptocurrencies rather than cash. 💰 The SEC has approved in-kind creations and redemptions for Bitcoin and Ether ETPs, a decision expected to boost efficiency and lower costs in the crypto ETF market. #SEC #CryptoETP https://t.co/lJoF4WXJaG — Cryptonews.com (@cryptonews) July 30, 2025 Chairman Paul Atkins emphasized the change would make products “ less costly and more efficient ” for investors. The in-kind redemption model provides significant tax advantages for institutional investors by allowing them to defer capital gains until they choose to sell the received cryptocurrencies. Previously, cash-only redemptions forced ETF issuers to sell underlying assets, triggering immediate tax consequences for shareholders. The Commission also approved applications for mixed Bitcoin-Ethereum ETPs and expanded position limits for Bitcoin ETP options to 250,000 contracts. Two scheduling orders were issued seeking public comment on large-cap crypto ETP listings previously approved under delegated authority. Greg Xethalis identified September 17 as a critical date, marking six months after Solana futures launched on CME. Circle September 17 as the date that is 6 months after SOL Futures listed on CME, although they were certified ~ one month sooner on Bitnomial and NADEX (so that could mean earlier approval if GLS is live or if the SEC acts independently on Solana 19b4s). — Greg Xethalis (@xethalis) July 30, 2025 However, earlier certification on Bitnomial and NADEX could accelerate approval timelines if the Generic Listing Standards receive final approval or if the SEC acts independently on pending applications. Market Dynamics Signal Institutional Adoption Surge Institutional demand has accelerated despite ongoing regulatory developments. BlackRock’s IBIT recorded $147.36 million in inflows on July 28 , leading spot Bitcoin ETFs to $157 million in total daily inflows. Ethereum ETFs attracted $65.14 million the same day, with BlackRock’s ETHA contributing $131.95 million. Corporate treasury adoption has expanded beyond Bitcoin. SharpLink Gaming became the largest corporate holder of Ethereum with 280,706 ETH worth approximately $840 million, surpassing the Ethereum Foundation. Corporate treasuries purchased at least $1.6 billion worth of ETH in recent weeks, with companies actively participating in network staking for yield generation. 💰 Only spot crypto ETFs tracking Bitcoin and Ether are available right now… but all that could be about to change #SEC #WallStreet https://t.co/0ybONqsB6s — Cryptonews.com (@cryptonews) April 30, 2025 The approval pipeline includes 72 pending crypto ETF applications from major providers , including Grayscale, CoinShares, Franklin Templeton, and VanEck. Bloomberg Intelligence assigns 95% approval odds for Solana, XRP, and Litecoin ETFs before year-end. Notably, recent volatility included the SEC’s controversial approval and immediate reversal of Bitwise’s 10 Crypto Index ETF on July 22. The fund would have tracked ten digital assets with 85% allocation to previously approved components like Bitcoin and Ethereum before Assistant Secretary Sherry Haywood issued a stay order under Rule 431. The regulatory confusion extended to staking-enabled ETFs, where the SEC questioned whether REX Financial and Osprey Funds’ proposed C-corporation structures comply with the Investment Company Act.

WebX: Japan's Largest Web3 Event, 2025 Date: August 25th-26th, 2025 Venue: Prince Park Tower Hotel, Tokyo, Japan (〒105-8563, Shibakoen 4-8-1, Minato-ku, Tokyo)ザ・プリンスパークタワーTokyo） Organizer: CoinPost Guests: Arthur Hayes (Maelstrom CEO) Yoshitaka