IMF Urges El Salvador to Ditch Bitcoin’s Legal Tender Status

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After adopting bitcoin as national currency, El Salvador plans to issue bonds backed by bitcoin as negotiations with the IMF stall

The International Monetary Fund urged El Salvador to strip bitcoin of its status as legal tender because of its large risks to financial stability, the latest twist in protracted talks between the fund and the highly

indebted Central American country to secure a $1.3 billion loan.as a national currency also creates risks for financial integrity, consumer protection and fiscal liabilities in a tiny economy with limited government resources.

 

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