The country announced that it will make merchants’ acceptance of Bitcoin voluntary, reduce their participation in the Chivo wallet, and limit public sector participation in economic activities.
El Salvador modify payments with Bitcoin to volunteer as a way to achieve a loan of the IMF for US$1.4 billion. The Central American nation accepted measures aimed at reducing its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.
In this way, the changes include: making volunteer Bitcoin acceptance by merchantsreduce your participation in the Chivo wallet and limit public sector participation in economic activities related to Bitcoin.
“The potential risks of the Bitcoin project will be significantly reduced in line with the Fund’s policies. Legal reforms will make the acceptance of Bitcoin by the private sector voluntary,” the IMF said, adding: “In the case of the public sector “Participation in Bitcoin-related economic activities, as well as Bitcoin transactions and purchases, will be limited.”
It should be noted that El Salvador He began buying Bitcoin in 2021, and currently owns 5,968.8, worth approximately $602 million. That year, President Nayib Bukele proposed BTC as legal tender, making El Salvador the first country in the world to do so.
He IMF He long urged Bukele to abandon his plans with Bitcoin, but with these changes reached the bottom seems to have twisted his hand. The deal will also involve additional loans from other global banks, including the World Bank.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
