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On 1/30, according to Reuters, the Salvadoran Congress swiftly approved a bitcoin amendment on Wednesday, submitted just minutes earlier by President Nayib Bukele. The main purpose of this amendment is to align with the loan protocol Salvador has reached with the International Monetary Fund (IMF) (, ensuring the voluntary use of bitcoin.
Bitcoin is the first example of coin, and still needs to be revised under financial pressure.
El Salvador became the world's first country to adopt Bitcoin as a legal tender in 2021, alongside the US dollar that has been in use for 20 years. This move has made the country a focal point of global cryptocurrency discussions and Nayib Bukele one of the most prominent supporters of Bitcoin. However, the International Monetary Fund has been cautious about this, believing that El Salvador should limit its reliance on Bitcoin to reduce financial risks.
Reached a $1.4 billion loan agreement with the IMF protocol, bitcoincy policies are restricted
In December last year, the Salvadoran government reached a $1.4 billion loan protocol with the IMF, one of the conditions of which was to relax the mandatory acceptance of Bitcoin. The IMF has been urging the Salvadoran government to reduce its official support for Bitcoin, especially by requiring private enterprises to no longer be forced to accept Bitcoin payments. The amendment passed this time is precisely to meet this requirement and return the acceptance of Bitcoin to a voluntary nature.
)El Salvador compromise! Promises to adjust Bitcoincurrency strategy to obtain IMF loans(
The ruling party fully supports, and the amendment is quickly passed