IMF Pressures El Salvador to Curtail Bitcoin Law

The IMF urges El Salvador to limit Bitcoin's role in its economy, citing financial risks and regulatory concerns.

The International Monetary Fund has consistently advised El Salvador to narrow the scope of its Bitcoin law since its adoption in 2021.
IMF spokesperson Julie Kozack emphasized the need for a stronger regulatory framework and oversight of Bitcoin activities.
El Salvador's President Nayib Bukele remains a staunch supporter of Bitcoin, despite the IMF's warnings and withheld financial aid.
Bitcoin's legal tender status in El Salvador has raised macroeconomic, financial, and legal concerns according to the IMF.
El Salvador's 2025 budget proposal, which aims to make the country debt-free, has been positively noted by the IMF.