Bolivia’s state-owned energy firm YPFB is planning to use cryptocurrency to pay for energy imports, according to a March 13 report from Reuters. The move comes as the South American nation faces a shortage of foreign currency reserves and a dwindling supply of domestic gas production.

Bolivia is facing a serious economic issue as the country has a severe lack of dollars and gasoline, forcing the state energy agency YPFB to use cryptocurrencies for energy imports.

Bolivia's state energy firm YPFB will use cryptocurrency to pay for energy imports amid a painful shortage of dollars and fuel in the landlocked South American nation, a company spokesperson and a government official told Reuters on Wednesday.

In Bolivia's farm region of Santa Cruz, a worsening fuel shortage is starting to hit farmers' ability to harvest their crops, a concern for the embattled South American country where agriculture has become a key economic driver.

Bolivia’s state energy firm, YPFB, will use cryptocurrency for energy imports amid a worsening fuel crisis. The country is struggling with declining gas exports and