El Salvador, which is looking to unlock $3.5 billion from the International Monetary Fund, has agreed to some bitcoin (BTC) concessions to get the money.

The nation will have to wind down or sell its Chivo crypto wallet, make bitcoin acceptance voluntary in the private sector and make taxes payable only in U.S. dollars.

Chivo failed to take off on a national level despite offering $30 for Salvadorans to sign up.