IMF worried about El Salvador’s Bitcoin adoption

The International Monetary Fund (IMF) is set to meet El Salvador representatives to discuss the country’s adoption of Bitcoin as legal tender.

IMF Director of Communications Department, Gerry Rice, made this known in a press briefing today.

Mr Rice acknowledged that the organization are already in talks with El Salvador lawmakers regarding a loan to aid the country’s economy.

He also admitted that making Bitcoin a legal tender raises several worrying “issues”

“Adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis,” said Rice. “We are following developments closely, and we’ll continue our consultations with the authorities.”

“Crypto assets can pose significant risks,” said Rice. “Effective regulatory measures are very important when dealing with them.”

Next: President Rouani seeks better awareness and legal framework to guide Crypto Transactions in Iran

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