IMF directors urge El Salvador to remove Bitcoin as legal tender

The recommendation came as the IMF's executive board finished a so-called"Article IV consultation" with El Salvador on Jan. 24, which refers to mandated discussions the organization conducts with its member countries.

IMF executive directors"stressed that there are large risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities," the latest press release stated."They urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status.

IMF directors generally agreed with the previous staff report, including the view that increasing financial inclusion in El Salvador is important and digital payment systems like the government-issued Chivo wallet could have a role in doing so.

El Salvador made Bitcoin legal tender alongside the U.S. dollar on Sept. 7, a few months after president Nayib Bukele

Nayib doesn't listen to them, and he's right. He makes his country one of the most cryptonized in the world by adopting BTC and making a deal with Tether and I think it's the right way to lead your country.

Lmao Seems they want poor nations to play the same game as them and make their treasury backed by dollars. That way, none of the 3world country will ever escape. 4thworld country in 2022 1st world in 2030

They don't want them to get so rich! Good for them!

Where is the dislike button on this social network, god damnit! ;p

Seems El Salvador is on the right track.

lol good luck trying.

change is sick boss.. this is market pressure... if the IMF doesn't agree.. one day the IMF will regret it.. maybe crypto could be.. can make it like the IMF itself... this is only an estimate.. only. support must agree.. make a political policy that provides a middle solution

Somehow I feel like this is going to be an epic battle where nayibbukele 's own twitter army memes the IMFSpokesperson into apologizing to Nayib and the people of El Salvador

I'm sorry who elected them to have such totalitarian power? don't member voting for them 🤡

To protect the Petrodollar primacy?

…getting worried?

🤡

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He’s busy

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