The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano and financed by bitcoin bonds. IMF Says El Salvador Shouldn’t Use Bitcoin as Legal Tender The International Monetary Fund (IMF) warned El Salvador on Monday that the country should not use bitcoin as legal tender, citing various risks associated with the cryptocurrency. El Salvador is the first country in the world to adopt bitcoin as legal tender alongside the U.S. dollar which it has used for two decades. The country’s bitcoin law went into effect in September. Furthermore, El Salvador has purchased 1,120 BTC , according to Salvadoran President Nayib Bukele. The IMF regularly undertakes Article IV missions to member countries to consult with government officials before they request to use its resour
Official Bitcoin Latest News Blog 🗞️