News
El Salvador approved indefinite reelection for president and extended terms to six years, sparking backlash from critics warning of increasing authoritarianism.
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IMF News
The IMF or the International Monetary Fund is a specialized agency of the United Nations that is headquartered in Washington, D.C. The IMF is a large international organization which includes over 189 countries and 2500 of employees. The IMF’s meaning for countries is activity during short-term macroeconomic crisis, as it provides credit not only to underdeveloped countries, but all countries that are members of the IMF. In terms of cryptocurrency, the IMF has issued a report considering the benefits and drawback of using Bitcoin and other altcoins. The organization recommends creating a regulatory framework that will secure common users and will not prevent the innovative technology’s development. Besides that, in 2017 the IMF was considering the issue of making its own cryptocurrency as new currency for reserve.
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Changes to El Salvador's Bitcoin laws under the IMF agreement put the benefits of BTC even further out of reach for the average resident.
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The IMF report directly contradicts regular posts from El Salvador’s Bitcoin Office that the country is purchasing one BTC per day.
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The IMF has reportedly blocked Pakistan’s plan to use cheap electricity for crypto mining, warning it could destabilize the energy market.
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The Central American country has continued its daily Bitcoin investments despite a non-accumulation deal struck with the IMF in December 2024.
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IMF questions Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining amid energy shortages and budget talks.
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El Salvador’s Bitcoin Office bought more Bitcoin shortly after the IMF announced it had reviewed its loan deal with the country.
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The country continues to acquire more Bitcoin for its strategic reserve and has embraced technical innovation to fuel economic growth.
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The IMF’s non-accumulation agreement may leave room for Bitcoin accumulation through non-governmental entities, industry watchers told Coinpectra.
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El Salvador’s Bitcoin Law requires maintaining an AML program, recording company assets and implementing a cybersecurity system.
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President Nayib Bukele shows no sign of abandoning the BTC treasury strategy as Bitcoin continues to gain international legitimacy.
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El Salvador appeared to contradict a recent agreement with the IMF to cease public investment in Bitcoin.
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El Salvador President Nayib Bukele says the country will keep buying at least one Bitcoin a day, despite pressure from the International Monetary Fund.
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The IMF has issued new requests under its $1.4 billion deal with El Salvador, aiming to restrict BTC purchases by the public sector.
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The vague language of El Salvador’s $1.4 billion deal with the IMF may imply that it might stop buying Bitcoin at some point, according to Samson Mow.
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