IMF urges El Salvador to scale back its push for Bitcoin as legal tender

International Monetary Fund urges El Salvador to scale back Bitcoin push

The International Monetary Fund said El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender

IMF urges El Salvador to scale back its Bitcoin push

El Salvador has has been dismissive of the IMF’s recommendation’s concerning Bitcoin

IMF urges El Salvador to scale back its Bitcoin push

The government did not see a need to scale back the scope of its Bitcoin law, but agreed regulation could be strengthened, according to the report.

IMF urges El Salvador to scale back its push for Bitcoin as legal tender

The International Monetary Fund says that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender and return any of those unused funds to its treasury.

IMF urges El Salvador to dissolve the $150 million Bitcoin trust fund

The IMF also recommended eliminating the offer of $30 as an incentive for people to start using the digital wallet ‘Chivo’ and increasing regulation of the digital wallet to protect consumers.IMF suggested there could be benefits to the use of Chivo, but only using dollars, not Bitcoin

IMF urges El Salvador to scale back its Bitcoin push

NEW YORK (AP) — The International Monetary Fund said Friday that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender and return a…