IMF Urges El Salvador to Revise Bitcoin Rules

The International Monetary Fund (IMF) is urging El Salvador to revamp its Bitcoin regulations. This comes after El Salvador became the first country to adopt Bitcoin as legal tender in 2021. The IMF has raised concerns about the risks associated with Bitcoin’s volatility and its potential impact on financial stability, fiscal sustainability, and consumer protection. The organization is calling for stronger regulations to mitigate these risks and ensure that the adoption of cryptocurrency aligns with sound economic policies. This pressure from the IMF highlights the ongoing global debate about the integration of cryptocurrencies into national economies.