The International Monetary Fund (IMF) has advised El Salvador to reform the country’s rules on Bitcoin (BTC) as an official currency.
During a press briefing, IMF spokesperson Julie Kozack says the agency is in ongoing engagement with El Salvador on policies that can boost productivity and economic governance.
She says the talks include issues stemming from the use of Bitcoin.
“Addressing risks arising from Bitcoin is a key element of these discussions. And of course, the goal is for the Fund to be in a position to support a credible and well-sequenced policy package that is designed by the authorities.”
Kozack says the IMF wants El Salvador to reconsider its policies on Bitcoin, which include the public’s exposure to the flagship crypto asset.
“With respect to the details on Bitcoin, 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 the public sector exposure to Bitcoin.”
El Salvador became the first country in the world to adopt Bitcoin as a legal tender in 2021. Earlier this year, President Nayib Bukele said that the Central American nation plans to continue accumulating one BTC per day.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Click Here to Read the Full Original Article at Bitcoin News – The Daily Hodl…
