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@ ch0k1
2025-03-01 20:03:29
El Salvador's Bitcoin Law Changes To Secure IMF Funding
https://www.forbes.com/sites/digital-assets/2025/02/28/el-salvadors-bitcoin-law-changes-to-secure-imf-funding/
El Salvador’s Bitcoin Law Changes have reshaped the country’s approach to bitcoin as legal tender, making the definition difuse but helping to unlock up to $3.5 billion in new financing from multilateral institutions. Since 2021, El Salvador positioned itself as Bitcoin Country, mainly due to the recognition of bitcoin as legal tender, approved that year.
On January 29, the country modified this law to comply with the International Monetary Fund’s conditions for accessing a $1.4 billion loan announced in late 2024. The IMF board approved it on February 26, allowing the authorities an immediate disbursement of approximately $113 million.
originally posted at https://stacker.news/items/900988