El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender – Regulation Bitcoin News

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El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender – Regulation Bitcoin News
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'No international organization is going to make us do anything,' said El Salvador's finance minister about the IMF's recommendation to drop bitcoin as legal tender. crypto cryptocurrency $BTC

El Salvador’s Finance Minister Alejandro Zelaya told a local television station that bitcoin is an issue of “sovereignty.” According to the media, he “angrily” said:“Countries are sovereign nations and they take sovereign decisions about public policy,” the finance minister added.

According to its analysis, “In the near-term the actual costs of implementing Chivo and operationalizing the Bitcoin law exceed potential benefits,” the IMFThe International Monetary Fund also recommended that El Salvador’s government start charging fees for the use of its digital wallet, Chivo. In addition, the IMF wants the Salvadoran government to stop giving away $30 in bitcoin to anyone signing up to use the Chivo wallet.

According to the IMF’s recent report on El Salvador, the government did not see a need to scale back the scope of its Bitcoin law but agreed that regulation could be strengthened. El Salvador adopted bitcoin as a national currency with legal tender status alongside the U.S. dollar in September last year. Since then, the country has

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