randomm

El Salvador Ends Bitcoin’s Legal Tender Status Amid IMF Pressure

El Salvador has ended Bitcoin’s status as legal tender. The choice followed pressure from the International Monetary Fund (IMF) trying to land a $1.4 billion loan. The new regulations make Bitcoin use entirely voluntary, therefore merchants and institutions are free to reject it and the coin cannot be used for tax payments.

Actually, President Nayib Bukele has been advocating the adoption of Bitcoin as a national economic fix starting in 2021. Nonetheless, according to a recent poll, just 8.1% of the population still utilizes the Chivo Wallet digital wallet, and most respondents believe the program has not really benefited them. Does this mark the end of the national Bitcoin experiment?

El Salvador Ends Bitcoin’s Legal Tender Status Amid IMF Pressure

El Salvador has ended Bitcoin’s status as legal tender. The choice followed pressure from the International Monetary Fund (IMF) trying to land a $1.4 billion loan. The new regulations make Bitcoin use entirely voluntary, therefore merchants and institutions are free to reject it and the coin cannot be used for tax payments.

Actually, President Nayib Bukele has been advocating the adoption of Bitcoin as a national economic fix starting in 2021. Nonetheless, according to a recent poll, just 8.1% of the population still utilizes the Chivo Wallet digital wallet, and most respondents believe the program has not really benefited them. Does this mark the end of the national Bitcoin experiment?
https://www.crypto-news-flash.com/el-salvador-ends-bitcoins-legal-tender-status-amid-imf-pressure