El Salvador to Pull Back Bitcoin Efforts for a $1.4 Billion IMF Loan

Quick Summary:

El Salvador, the first country to adopt Bitcoin as a legal tender, agrees to limit Bitcoin-related activities in exchange for a $1.4 billion loan from the International Monetary Fund (IMF).

Moreover, the tax payments will be in U.S.dollars.

The agreement approval is subjected to the IMF’s Executive Board.

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Article Details

Author / Journalist: Sarayu Krishna

Category: Crypto

Markets: United Arab EmiratesEl Salvador

Topics: Bitcoin IMF Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 09:45:18 (21 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 278 words

Reading Time: 2 minutes read

Sentences: 20 lines

Sentence Length: 14 words per sentence (average)

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

Copyright Owner: © TheNewsCrypto

News ID: 24549682

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 43 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

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