Juan Pablo Sánchez – Senior Associate
In recent years, services related to virtual assets—such as crypto-assets—have grown rapidly in Bolivia and around the world. This new financial environment has brought with it opportunities and innovation, as well as regulatory challenges. Despite the current limited regulation, and in response to this transformation, the Financial Investigations Unit (UIF) issued Administrative Resolution RA-19/25—a regulation that marks a turning point for those operating with virtual assets in the country.
This resolution establishes that any natural or legal person who engages in commercial activity or operates for profit, including the activities listed below, must register as an Obligated Entity with the UIF. The activities described in the resolution include:
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Exchange between virtual assets and fiat currencies;
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Exchange between one or more forms of virtual assets;
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Transfer of virtual assets;
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Custody and/or administration of virtual assets or instruments that enable control over them;
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Participation in or provision of financial services related to an issuer’s offering and/or sale of a virtual asset.
What does this mean? It means that, once registered, those who provide these services or engage in these activities must actively cooperate with the national system for the prevention of money laundering and terrorist financing, complying with a series of legal and technical obligations.
The objective of this regulation is clear: to equip Bolivia’s financial system with the tools necessary to properly supervise the emerging economic activity surrounding virtual assets. As Obligated Entities, providers of these services must implement controls such as client identification, monitoring of unusual operations, and reporting of any suspicious transactions.
It’s not just about fulfilling a bureaucratic requirement, but about adopting a culture of compliance that promotes transparency, security, and trust—for both users and regulators. Failing to register can have serious consequences, ranging from administrative sanctions to operational restrictions.
That’s why, if your business or venture is linked to the management of virtual assets—whether through exchange platforms, digital wallets, custody services, or any other related model—it’s essential to assess your legal standing under this regulation. Complying with RA-19/25 not only protects your operations but positions you as a responsible actor within Bolivia’s crypto ecosystem.
In an environment where trust and legality make all the difference, being proactive and compliant is not just an obligation—it’s a competitive advantage.
Do you have questions about how to register with the UIF? Not sure if your activity qualifies as a virtual asset service provider?
At Indacochea & Asociados, we assist entrepreneurs, companies, and digital platforms in complying with current regulations by implementing compliance models tailored to their operations.