BlockBeats news, on December 19, according to Decrypt, after four years of negotiations, El Salvador reached a $1.4 billion loan agreement with the International Monetary Fund (IMF) on Wednesday. However, this agreement may not be as favorable as it sounds.
The terms of the agreement suggest that if approved, El Salvador will have to scale back certain aspects of its Bitcoin strategy.
The preliminary details of the agreement were disclosed earlier this month, with the plan focusing on 'supporting macroeconomic adjustments and structural reforms.'
According to the new agreement, El Salvador will make the acceptance of Bitcoin voluntary in the private sector and limit public sector participation in crypto activities.
