El Salvador to Ease Bitcoin Usage Mandate Under $1.4B IMF Loan Deal

Quick Summary:

El Salvador is set to ease its Bitcoin usage mandate as part of a $1.4 billion loan agreement with the International Monetary Fund (IMF).

The reforms include making Bitcoin acceptance voluntary for merchants, reducing government involvement in the Chivo wallet, and limiting public sector participation in Bitcoin-related transactions.

The reforms mark a turning point in El Salvador’s Bitcoin experiment, signaling a shift toward a more sustainable and balanced approach.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaEl Salvador

Topics: El Salvador Bitcoin mandate Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 11:01:53 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 562 words

Reading Time: 4 minutes read

Sentences: 34 lines

Sentence Length: 17 words per sentence (average)

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

Copyright Owner: © BitcoinWorld

News ID: 24547582

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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Year Established: 2020

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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