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21 June 2021

IMF Has a Problem With El Salvador’s Bitcoin Ambitions - Decrypt

IMF Has a Problem With El Salvador’s Bitcoin Ambitions - Decrypt


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El Salvador’s president, Nayib Bukele, announced his plans for the Bitcoin law last week at the annual Bitcoin Conference in Miami; his bill was officially adopted yesterday, making El Salvador the only country in the world to require local merchants to accept cryptocurrency.

“Adoption of Bitcoin as legal tender raises a number of macroeconomic, financial, and legal issues that require very careful analysis, so we are following developments closely and will continue our consultation with authorities,” said IMF spokesperson Gerry Rice at a press conference Thursday morning.

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