Coverage dated January 24, 2022 to January 25, 2022
IMF urges El Salvador to drop Bitcoin as legal tender
Headline from WTOP Washington DC
The International Monetary Fund wants El Salvador to drop the highly volatile cryptocurrency Bitcoin as legal tender and strictly regulate the electronic wallet the government has pushed adoption of across the country.
WTOP Washington DC's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
“There are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection,” says the International Monetary Fund.
The fund has previously called on El Salvadoran authorities to rethink bitcoin’s legal tender status due to its volatility, risks to consumer protection and financial concerns.
The International Monetary Fund wants El Salvador to drop the highly volatile cryptocurrency Bitcoin as legal tender and strictly regulate the electronic wallet the government has pushed adoption of across the country.
The International Monetary Fund's (IMF) Executive Board on Tuesday warned El Salvador against moving to make Bitcoin a legal tender and called for "strict regulation and oversight of the new ecosystem," according to the board's
The Board also weighed in on the importance of financial inclusion and how the decision to offer a Chivo digital wallet that allows for transactions in bitcoin and U.S. dollars could help El Salvador make progress on this front.
The International Monetary Fund (IMF) urged El Salvador to abandon Bitcoin, saying the cryptocurrency could pose risks to national financial stability, consumer protection and the inability to receive loans.
Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.
