🔥El Salvador will limit some activities with Bitcoin due to an agreement with the IMF 👀
#ElSalvador and the International Monetary Fund (#FMI ) have reached an agreement for the country to limit domestic activities related to #Bitcoin , in exchange for a financing package.
The financing package provided by the IMF, which is expected to last for 40 months, includes a loan of $1.4 billion, aimed at supporting El Salvador's reform agenda and addressing the country's balance of payments needs.
In June 2021, El Salvador adopted Bitcoin as legal tender. With this new agreement, El Salvador would make the acceptance of Bitcoin by merchants voluntary, the country would reduce its participation in the Chivo wallet, and the public sector's involvement in economic activities with Bitcoin would be limited.
The agreement still needs the approval of the IMF's executive board to be implemented.
After the agreement, will El Salvador be able to continue buying Bitcoin?🤔
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