El Salvador Ends Bitcoin’s Legal Tender Status Amid IMF Pressure
- El Salvador removed Bitcoin’s legal tender status after less than four years.
- The decision followed pressure from the International Monetary Fund (IMF).
- The country’s lawmakers modified six and removed three provisions of the 2021 Bitcoin Law.
- The amendments make Bitcoin acceptance voluntary, not mandatory.
- El Salvador seeks a $1.4 billion funding deal from the IMF, conditional on reducing Bitcoin-related risks.
El Salvador has reformed its Bitcoin Law to make its acceptance optional, removing its status as legal tender. This move aligns with conditions set by the IMF for a potential $1.4 billion funding agreement.
Source (2.6)https://dailyhodl.com/2025/02/03/el-salvador-reverses-bitcoin-legal-tender-status-under-pressure-from-imf-report/?rand=59076
