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Bukele’s IMF Deal Controversy: Fine Print on Bitcoin Raises Questions

Bukele’s IMF Deal Controversy: Fine Print on Bitcoin Raises QuestionsWhile the fine print of the IMF credit facility deal states that the public sector will not acquire more bitcoin, El Salvador’s President Nayib Bukele has rejected this notion, asserting that these acquisitions will continue. But who is right? El Salvador’s IMF Credit Deal Fine Print Discussed: Are Bitcoin Purchases Forbidden? Controversy has arisen over […]

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IMF: Namibia Has No ‘Compelling Rationale’ for Retail CBDC

IMF: Namibia Has No ‘Compelling Rationale’ for Retail CBDCThe International Monetary Fund recently concluded that Namibia should not issue a retail central bank digital currency at this time. Namibia Lacks Resources to Pursue CBDC The International Monetary Fund (IMF) mission to Namibia recently concluded that there are no compelling reasons for the Southern African nation to issue a retail central bank digital currency […]

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IMF Requests New Bitcoin Restrictions on El Salvador, Including Ending BTC Purchases With Public Funds

IMF Requests New Bitcoin Restrictions on El Salvador, Including Ending BTC Purchases With Public Funds

The International Monetary Fund (IMF) is attempting to impose strict restrictions on El Salvador as part of a $1.4 billion loan agreement, targeting the country’s controversial Bitcoin (BTC) adoption strategy. Under new conditions in the IMF’s Staff Country Report, El Salvador must halt public sector acquisitions of the BTC, dissolve the Fidebitcoin trust fund by […]

The post IMF Requests New Bitcoin Restrictions on El Salvador, Including Ending BTC Purchases With Public Funds appeared first on The Daily Hodl.

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Latam Insights Encore: IMF’s Deal Is Clear: Want Funds? Drop Bitcoin!

Latam Insights Encore: IMF’s Deal Is Clear: Want Funds? Drop Bitcoin!Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and crypto news from the past week. This edition examines how the dynamics between the IMF and the Salvadoran government can serve as a framework for countries seeking to engage with bitcoin and the institution. Latam Insights Encore: IMF to Model […]

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Bitcoin Purchases Confined: IMF Approves $1.4 Billion Credit Facility for El Salvador

Bitcoin Purchases Confined: IMF Approves .4 Billion Credit Facility for El SalvadorThe IMF, which informally approved the deal last year, states that this program aims to boost El Salvador’s finances and growth prospects. However, the Bukele administration must “confine” its bitcoin activities and purchases in return. Done Deal: IMF Greenlights $1.4 Billion Credit, Limits Salvadoran Bitcoin Purchases The International Monetary Fund (IMF) has finally greenlighted a […]

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El Salvador Passes New Bitcoin (BTC) Legislation Tied to New IMF $1,400,000,000 Funding Deal: Report

El Salvador Passes New Bitcoin (BTC) Legislation Tied to New IMF ,400,000,000 Funding Deal: Report

The first country to use Bitcoin (BTC) as a legal tender has reportedly passed a new law that will scale back its crypto efforts. Reuters reports that on Wednesday, lawmakers in El Salvador approved a bill to amend the nation’s Bitcoin law in compliance with a deal that the government struck with the International Monetary […]

The post El Salvador Passes New Bitcoin (BTC) Legislation Tied to New IMF $1,400,000,000 Funding Deal: Report appeared first on The Daily Hodl.

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Latam Insights Encore: El Salvador’s Bitcoin Push Persists, Undeterred by IMF Deal

Latam Insights Encore: El Salvador’s Bitcoin Push Persists, Undeterred by IMF DealWelcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from the past week. This edition examines the defiant stance of El Salvador’s government on bitcoin and how Bukele will continue to push for its adoption and purchases despite the recently issued IMF deal. Latam Insights Encore: El […]

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El Salvador Reinforces Bitcoin Allegiance: Purchases BTC in Defiance of IMF Agreement

El Salvador Reinforces Bitcoin Allegiance: Purchases BTC in Defiance of IMF AgreementThe government of El Salvador has clarified that it will continue pushing bitcoin as part of its economic strategy, even as it inked an agreement with the IMF to wind down its bitcoin operations. El Salvador Keeps Purchasing Bitcoin After IMF Deal While many lamented the recent agreement between El Salvador and the International Monetary […]

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El Salvador buys 11 BTC only a day after reaching a deal with IMF

El Salvador purchased 11 Bitcoin a day after reaching a $1.4 million IMF loan deal that called for a reduction in public sector engagement in “Bitcoin-related economic activities.”

El Salvador bought $1 million worth of Bitcoin a day after striking a $1.4 billion deal with the International Monetary Fund that stipulated limits on dealing with the cryptocurrency.

The country’s National Bitcoin Office wrote in a Dec. 19 X post that it had “transferred over a million dollars worth of Bitcoin to our Strategic Bitcoin Reserve,” with its website showing it had added 11 Bitcoin (BTC) to its holdings.

The move broke its streak of adding “one Bitcoin per day” that President Nayib Bukele announced in November 2022 and brought the country’s holdings to 5,980.77 BTC, worth about $580 million with BTC trading at around $97,000.

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Quid Pro Quo: El Salvador Scores $1.4 Billion IMF Credit by Scaling Back Bitcoin Activities

Quid Pro Quo: El Salvador Scores .4 Billion IMF Credit by Scaling Back Bitcoin ActivitiesThe International Monetary Fund (IMF) reached an agreement with the government of El Salvador to provide a $1.4 billion credit facility to fund the country’s reform agenda. In exchange, El Salvador agreed to scale back bitcoin’s economic involvement to mitigate risks derived from its implementation. El Salvador to Receive $1.4 Billion Credit From the IMF, […]

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