El Salvador has reached a significant agreement with the International Monetary Fund (IMF), securing a $3.5 billion financing package. As part of the deal, the country has committed to making the acceptance of Bitcoin voluntary, addressing concerns about its prior mandate for businesses to accept the cryptocurrency. Additionally, El Salvador has agreed to dismantle its state-backed Chivo wallet, signaling a shift in its approach to integrating Bitcoin into its economy. This development marks a notable adjustment in El Salvador’s Bitcoin strategy while providing much-needed financial support from the IMF.

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