tldr; During an Oct. 3 press conference, the IMF urged El Salvador to revise its Bitcoin regulations, emphasizing a shift away from Bitcoin as legal tender, which was adopted in 2021. The IMF has consistently pressured El Salvador to revert to traditional financial systems, despite acknowledging that many risks of Bitcoin adoption have not materialized. The IMF’s stance against Bitcoin contrasts with its support for central bank digital currencies (CBDCs), as seen in its recent ‘REDI’ framework for CBDC development.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Abdeliq on
>Since El Salvador legalized Bitcoin as a form of legal tender in 2021, the IMF has pressured the Central American country to step away from Bitcoin and embrace traditional financial infrastructure
Why’s what El Salvador choose as currency their problem? El Salvador is a country with no resources, at least just let them be and uses bitcoin as they want. What’s IMF problem?
Aggressive_Trick_654 on
The IMF wants to control. You can’t control Bitcoin. It’s stateless and permissionless. That’s why governments are against it.
3 Comments
tldr; During an Oct. 3 press conference, the IMF urged El Salvador to revise its Bitcoin regulations, emphasizing a shift away from Bitcoin as legal tender, which was adopted in 2021. The IMF has consistently pressured El Salvador to revert to traditional financial systems, despite acknowledging that many risks of Bitcoin adoption have not materialized. The IMF’s stance against Bitcoin contrasts with its support for central bank digital currencies (CBDCs), as seen in its recent ‘REDI’ framework for CBDC development.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
>Since El Salvador legalized Bitcoin as a form of legal tender in 2021, the IMF has pressured the Central American country to step away from Bitcoin and embrace traditional financial infrastructure
Why’s what El Salvador choose as currency their problem? El Salvador is a country with no resources, at least just let them be and uses bitcoin as they want. What’s IMF problem?
The IMF wants to control. You can’t control Bitcoin. It’s stateless and permissionless. That’s why governments are against it.