IMF recommends El Salvador to limit the public’s exposure to Bitcoin
The IMF wants El Salvador to limit “public sector exposure to Bitcoin” The financial agency’s remarks follow an August statement, which talked about “mitigat[ing] the risks from Bitcoin” The International Monetary Fund (IMF) has recommended that El Salvador reduce the scope of its Bitcoin law and limit the public’s exposure to Bitcoin. During a press conference, IMF spokesperson Julie Kozack said: “What we have recommended is a narrowing of the scope of the Bitcoin law, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.” Kozack added that the IMF continues talking with El Salvador and that “addressing risks arising from Bitcoin is a key element of these discussions.” The Central American country is no stranger to the IMF’s views on its use of Bitcoin. Notably, the issue goes back to 2021 when El Salvador made Bitcoin ...