IMF Urges El Salvador to Remove Bitcoin as Legal Tender

Published by
The Street

By Rob Lenihan The IMF Executive Board raises concerns about El Salvador making bitcoin legal tender. The Executive Board of the International Monetary Fund urged El Salvador to remove bitcoin’s legal tender status, citing concerns about “financial stability, financial integrity, and consumer protection.” El Salvador is the first country in the world to make bitcoin legal tender, with the government giving $30 in free bitcoins to citizens who signed up for its national digital wallet, known as “Chivo,” or “cool” in English. ‘Contingent Liabilities'”The adoption of a cryptocurrency as legal ten…

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