El Salvador to Change Bitcoin Law as Part of New IMF Deal: FT

Quick Summary:

Salvadoran merchants reportedly will no longer be compelled to accept bitcoin as a means of payment anymore.

Modifications to the bitcoin law aren’t the only condition imposed by the IMF.

The Salvadoran government will also need to commit — via spending cuts and tax increases — to reducing its budget deficit to 3.5% of GDP over three years, the report said.

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Article Details

Author / Journalist: Tom Carreras

Category: Crypto

Markets: United StatesCosta RicaCubaEl Salvador

Topics: Nayib Bukele El Salvador Bitcoin Law Policy IMF Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 15:15:50 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 358 words

Reading Time: 2 minutes read

Sentences: 30 lines

Sentence Length: 12 words per sentence (average)

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

Copyright Owner: © CoinDesk

News ID: 24283339

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Main Topics: Crypto

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News Last Updated: 1 days ago

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