atlas21 on Nostr: BITCOIN - The government of El Salvador has reached an agreement with the ...
BITCOIN - The government of El Salvador has reached an agreement with the International Monetary Fund (IMF) to obtain $1.4 billion in financing over the next 40 months, in exchange for amendments to the Bitcoin Law.
Among the main changes, the acceptance of Bitcoin by merchants will become voluntary, no longer mandatory as stipulated by Article 7 in 2021 when El Salvador became the first country in the world to adopt the cryptocurrency as legal tender. However, while the law formally required the acceptance of Bitcoin as legal tender, this provision was never fully enforced in practice.
The government will also scale back its involvement with the state wallet, Chivo, and limit public sector economic activities related to Bitcoin.
https://atlas21.com/el-salvador-agreement-with-the-imf-to-amend-the-bitcoin-law/
Among the main changes, the acceptance of Bitcoin by merchants will become voluntary, no longer mandatory as stipulated by Article 7 in 2021 when El Salvador became the first country in the world to adopt the cryptocurrency as legal tender. However, while the law formally required the acceptance of Bitcoin as legal tender, this provision was never fully enforced in practice.
The government will also scale back its involvement with the state wallet, Chivo, and limit public sector economic activities related to Bitcoin.
https://atlas21.com/el-salvador-agreement-with-the-imf-to-amend-the-bitcoin-law/