El Salvador scales back bitcoin bet to get $1.4bn IMF loan

Quick Summary:

In 2021, El Salvador became the first country in the world to make bitcoin acceptance mandatory.

For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.

On Thursday, the cryptocurrency retreated along with global stock markets after the US Federal Reserve signalled a slower pace of interest rate cuts next year.

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Article Details

Category: Business

Markets: United KingdomEl Salvador

Topics: Fund Donald Victory Election Bitcoin Policies Cryptocurrency Salvador Deal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 03:55:13 (12 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 24544065

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Main Topics: Business

Official Website: bbc.co.uk

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Year Established: 1922

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News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

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