PARIS, June 11 — A spokesman for the IMF on Thursday warned of the risks of using bitcoin for day-to-day transactions after El Salvador, which is in negotiations for additional funds from the crisis lender, approved the cryptocurrency’s use.
“Adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis,” spokesman Gerry Rice told reporters Thursday. The IMF in April 2020 approved US$389 million in emergency aid for El Salvador as the coronavirus crisis swept the globe.
“The IMF staff team will communicate at the end of this mission, which is taking place virtually,” Rice said.
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