LIVE
🚨🚨🚨Breaking News: The IMF has reportedly requested changes to El Salvador's pioneering Bitcoin law during negotiations for a $1.4 billion loan, according to reports.
As reported by Infobae, the International Monetary Fund (IMF) has reportedly blocked the country's attempts to obtain a $ 1.4 billion credit line by demanding changes to El Salvador's pro-Bitcoin law.
IMF STILL DEMANDING CHANGES TO EL SALVADOR'S BITCOIN LAW: REPORT
According to reports, El Salvador's leading Bitcoin during negotiations for a $ 1.4 billion loan from the IMF
it is reported that he is demanding changes to the law.
EL SALVADOR
As reported by Infobae, the International Monetary Fund (#IMF ) has reportedly blocked the country's attempts to obtain a $ 1.4 billion credit line by demanding changes to El Salvador's pro-Bitcoin law.
El Salvador made history in 2021 by adopting Bitcoin as a legal means of paying under the administration of President Nayib Bukele. Since then, the country has invested heavily in Bitcoin, built up Bitcoin reserves, conducted BTC mining, and launched educational initiatives.
According to the IMF's communications director Julie Kozack's statement last Thursday, the "risks" of Bitcoin remain an important topic in the negotiations with El Salvador.
The fund's opposition highlights a conflict over the future of the money and payments. While Bukele sees Bitcoin as an innovative solution for financial inclusion, the IMF remains wary of Bitcoin's volatility, decentralized structure and a threat to its dominance.
Regardless of the pressures, El Salvador has acted decisively in its commitment to Bitcoin. The country has invested over $150 million in BTC reserves and is constantly buying more. Bukele also promised to buy 1 BTC per day.
This situation shows the destructive potential of Bitcoin to reshape global finance. Although it may be risky for El Salvador in the short term, Bukele's Bitcoin bet may benefit in the long run.
