Bolivia has decided to use cryptocurrency for paying for fuel imports due to a shortage of dollars.
The government has granted the state-owned oil company YPFB permission to conduct transactions in digital currencies.
This move comes as the country faces a worsening economic situation, where declining gas exports have drained its foreign reserves.
With fewer dollars available, it has become harder to secure funding for essential imports like fuel.
This shortage has led to long lines at gas stations, frustrating the public.
To tackle the issue, the government approved the use of crypto for fuel payments, though these transactions have not started yet.
Officials hope that using digital currencies will help stabilize fuel imports, but this approach is not without its risks.
The crisis is also made worse by cuts to fuel subsidies, which have severely affected industries like agriculture and gold mining.
This has raised concerns about possible food shortages and disruptions in the supply chain. Protests have started, with some gold miners threatening to strike and block roads.
In an effort to prevent fuel smuggling, the military has been put in charge of fuel distribution, adding to the already tense situation.
