19 hours ago · El Salvador has voted to scale back its radically pro-Bitcoin legislation after agreeing to a deal with the International Monetary Fund (IMF) in December 2024, Reuters reports. The deal involved El Salvador making a basket of financial reforms in exchange for a $1.4 billion loan from the IMF’s Extended Fund Facility (EFF) to fund the government’s reform agenda.

El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele , the president of El Salvador , who claimed that it would improve the economy by making banking easier for Salvadorans, and that it ...

23 hours ago · El Salvador amended its Bitcoin Law, making BTC acceptance voluntary and reducing state involvement to align with an IMF-backed loan deal. The reforms remove Bitcoin’s legal tender status and state-provided infrastructure, reflecting low public adoption, with 92% of citizens not using BTC in 2024.

21 hours ago · In 2021, El Salvador became the first country to adopt the cryptocurrency as legal tender — along with the dollar — instantly giving President Nayib Bukele fame as a Bitcoin pioneer and ...

Dec 6, 2024 · SAN SALVADOR, El Salvador (AP) — As bitcoin reached historic highs, surpassing $100,000 for the first tim e, El Salvador’s President Nayib Bukele was triumphant on Thursday about his big bet on the cryptocurrency.

1 day ago · [1/5] A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo Purchase Licensing Rights, opens new tab

23 hours ago · El Salvador's Congress passed a legislative amendment on Wednesday to alter the country's Bitcoin BTC/USD policy, making its acceptance voluntary rather than mandatory.. What Happened: The move ...

1 day ago · El Salvador currently holds 6,049 BTC worth around $633 million, according to the Bitcoin Office official tracker. The portfolio has made a 127% profit with an average purchase price of $46,000 ...

22 hours ago · Merchants in El Salvador, the first country to make bitcoin legal tender, will no longer be obliged to accept the cryptocurrency as payment, under a reform adopted to comply with conditions for an international loan. The International Monetary Fund said last month it had reached an agreement for a $ ...

Dec 6, 2023 · El Salvador's president is celebrating after a Bitcoin reserve he bought with public money has entered the black amid the continuing Bitcoin price rise. Since 2021, Nayib Bukele has spent...