The first country that Bitcoin (BTC) uses as a legal means of payment has reportedly adopted a new law that shields its crypto efforts.
Reuters report That the legislators in El Salvador approved a bill on Wednesday to amend the Bitcoin Act of the Nation in accordance with a deal that the government concluded with the International Monetary Fund (IMF).
In December, the Government of El Salvador and a staff team of the IMF reached a deal for a $ 1.4 billion loan facility after he agreed that the Midden -American nation would enable companies to decide whether they want to accept cryptocurrency payments.
El Salvador plans to use the fund to support economic reforms. The IMF says the scheme under the Extended fund Facility (EFF) will reduce the Bitcoin-related risks of the country.
“The potential risks of the Bitcoin project will be taken considerably in accordance with the fund policy. Legal reforms will make Bitcoin acceptance voluntarily by the private sector. For the public sector, involvement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be limited. “
The Congress of El Salvador, which is dominated by the new ideas of President Nayib Bukele, approved the reform with 55 votes for and two against.
The agreement is still subject to the approval of the IMF council of administration and conditioned on the fulfillment of the conditions of El Salvador.
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