IMF urges El Salvador to enhance Bitcoin regulatory framework and limit public sector exposure.

The International Monetary Fund (IMF) has urged El Salvador to enhance its regulatory framework regarding Bitcoin, which the country adopted as legal tender in 2021. IMF spokesperson Julie Kozack recommended narrowing the Bitcoin law's scope and limiting public sector exposure to the cryptocurrency to mitigate fiscal risks. While praising El Salvador's 2025 budget proposal, the IMF emphasized the need for effective implementation amidst ongoing concerns about financial stability.

October 03, 2024
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