After four years of negotiations, the International Monetary Fund approved a $1.4 billion extended fund loan to support El Salvador's economic reforms. But reaching this agreement came at a cost: the Salvadoran government pledged to improve fiscal balance, reduce the debt-to-GDP ratio, and lower financial risks associated with Bitcoin. This marks a shift for the country as it seeks to become a global cryptocurrency hub. The President of El Salvador announced in 2021 that Bitcoin would become legal tender alongside the US dollar, positioning El Salvador as the world's first 'crypto nation.' The International Monetary Fund added, 'The Salvadoran public sector's involvement in Bitcoin-related economic activities and the trading and purchasing of Bitcoin will be restricted; furthermore, Bitcoin payments will no longer be accepted and must be made in US dollars.' The Salvadoran side announced that the Chivo digital wallet will be 'sold or shut down,' but other initiatives related to Bitcoin will continue, including remaining as legal tender.