The IMF Recommends Strengthening Bitcoin Regulation in El Salvador
The International Monetary Fund (IMF) has once again raised concerns about El Salvador and Bitcoin, urging the country to strengthen its regulation.
El Salvador and the IMF: continued pressure on the country’s Bitcoin regulation
Once again, the IMF has pressured El Salvador to regulate Bitcoin effectively.
During a press conference, Julie Kozack from the IMF highlighted the need to narrow the scope of the Bitcoin law, enhance regulation and supervision, and reduce the public sector’s exposure to Bitcoin.
Despite El Salvador’s 3% annual GDP growth, the IMF continues to push for stricter regulations for Bitcoin.
El Salvador: the IMF asks the country for efforts on Bitcoin regulation
The IMF is reiterating its call for El Salvador to improve Bitcoin regulation, following previous discussions with the government.
The IMF acknowledges the need for transparency and risk mitigation in El Salvador’s Bitcoin adoption.
While the IMF’s stance on Bitcoin has become more moderate, President Nayib Bukele has expressed some disappointment in the level of Bitcoin adoption in the country.
The small disappointment regarding the spread of BTC adoption in the country
President Bukele has noted a slight disappointment in the adoption of Bitcoin in El Salvador, wishing for wider adoption among citizens.
While Bukele hoped for more widespread Bitcoin adoption, he is also content that the choice to adopt Bitcoin remains voluntary for Salvadorans.
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