Bitcoin

The International Monetary Fund (IMF) has once again urged El Salvador to reconsider its Bitcoin policies. In a <a href="https://www.reuters.com/technology/imf-says-bitcoin-remains-key-element-el-salvador-program-talks-2024-10-03/#:~:text&#61;%22What%20we%20have%20recommended%20is,in%20a%20scheduled%20press%20conference." rel="noopener noreferrer nofollow">press conference</a> on October 3, 2024, IMF spokesperson Julie Kozack highlighted the IMF’s instance to overhaul El Salvador’s regulatory policies.The financial agency cited concerns over financial integrity and stability. Reluctant to disclose the exact details behind the proposal, Kozack stated,&#34;What we have recommended is a narrowing of the scope of the Bitcoin Law, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.&#34; The IMF’s disagreement with El Salvador&#39;s Bitcoin policies has been ongoing for years. In November 2021, when El Salvador adopted Bitcoin as the legal tender, the IMF objected to the development. Additionally, the agency pushed the country to abandon Bitcoin and embrace traditional finance. The regulators insisted El Salvador strengthen its regulations, which they reiterated later in January 2022. Recently, in August 2024, the agency reaffirmed its position on El Salvador’s Bitcoin policies. However, they acknowledged that many of the risks associated with Bitcoin adoption have not materialized.Related: <a href="https://cryptotale.org/hbo-documentary-claims-to-reveal-bitcoins-satoshi-nakamoto/" rel="noopener noreferrer nofollow">https://cryptotale.org/hbo-documentary-claims-to-reveal-bitcoins-satoshi-nakamoto/</a><a href="https://cryptotale.org/imf-urges-el-salvador-to-strengthen-bitcoin-policies/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

IMF Urges El Salvador To Strengthen Bitcoin Policies

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