El Salvador Bows to IMF Pressure, Limits Bitcoin Use in Exchange for $1.4bn Loan

El Salvador’s ambitious experiment with Bitcoin as legal tender has been significantly curtailed following an agreement with the International Monetary Fund (IMF) for a $1.4 billion loan. The deal, reached last month, imposes restrictions on the government’s involvement in cryptocurrency activities, requiring that Bitcoin use in the private sector remain voluntary and that public sector [...]The post El Salvador Bows to IMF Pressure, Limits Bitcoin Use in Exchange for $1.4bn Loan appeared first on Tekedia.

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