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

Summary by Ground News

The trust fund was intended to allow the automatic conversion of Bitcoin to U.S. dollars. The IMF also recommended eliminating the offer of $30 as an incentive for people to start using the digital wallet. El Salvador and the IMF have been negotiating $1.3 billion in lending for months.

4 months ago·New York, United States

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The Hindu

IMF urges El Salvador to scale back its Bitcoin push

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

4 months ago·India

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The Independent

IMF urges El Salvador to scale back its Bitcoin push

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

4 months ago·London, United Kingdom

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abc News

IMF urges El Salvador to scale back its Bitcoin push

4 months ago·United States

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Associated Press News

IMF urges El Salvador to scale back its Bitcoin push

4 months ago·United States

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Indian Express

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.

4 months ago·India

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MY Northwest

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 any of those unused funds to its treasury.The recommendation was part of the international lender’s report on El Salvador’s economy and went beyond its statement earlier this week urging El Salvador to drop Bitcoin as legal tender.The trust fund was int…

4 months ago·Tacoma, United States

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