IMF will meet with authorities of El Salvador
The reason for this meeting is to discuss the new economic policy announced by President Nayib Bukele related to bitcoin
The International Monetary Fund (IMF) announced that it will hold a meeting with the authorities of El Salvador to discuss the new economic policy, which would accept bitcoin as legal tender.
According to the IMF spokesman, Gerry Rice, this decision could pose legal and financial problems for the Salvadoran region.
“The adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis,” the spokesperson said.
It is not the first time that the authorities of the international fund show their concerns about the initiatives of several countries to adopt digital currencies for legal tender.
In March this year, the IMF issued a similar warning against the Marshall Islands recognition of its digital sovereign currency, called SOV, as legal tender, as it may pose similar legal and financial risks.
The president of El Salvador had announced during the Bitcoin 2021 Conference in a pre-recorded message, that in the next few days a bill will be introduced that proposes using cryptocurrency as legal use in the country. This law was later approved by the majority of the Legislative Assembly.
K. Tovar
Source: Cointelegraph
