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RE: LeoThread 2025-03-08 21:45

in LeoFinance7 months ago

El Salvador struck a deal with the IMF in December 2024 for a $1.4 billion loan from the organization. As part of that deal, the government of El Salvador agreed to rescind the status of BTC as legal tender in the country and scale back public sector involvement with Bitcoin.

El Salvador continues stacking despite IMF pressure
El Salvador's Congress amended its Bitcoin laws in January 2025 to comply with the IMF loan agreement. Lawmakers repealed the previous version of the law in a 55-2 vote.

Despite the repeal, the government continued stacking Bitcoin, purchasing two BTC in a single day on Feb. 1 and continuing its daily accumulation of the digital currency.

On March 3, the IMF issued a new request pressuring El Salvador to stop accumulating BTC and stipulated that the country could not issue debt or tokenized securities tied to Bitcoin.