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

December 31, 2024 Bitcoin.com

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Welcome 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

December 22, 2024 Bitcoin.com

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The 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

December 20, 2024 Coin Telegraph

Bitcoin

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

December 19, 2024 Bitcoin.com

Quid Pro Quo: El Salvador Scores .4 Billion IMF Credit by Scaling Back Bitcoin Activities

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The 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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El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

December 19, 2024 Coin Telegraph

Bitcoin

El Salvador’s struck a loan deal with the IMF and will make Bitcoin acceptance voluntary and roll back government involvement in Bitcoin-related projects.

Update Dec. 19, 5:45 am UTC: This article has been updated to add a response from El Salvador’s National Bitcoin Office.

El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet and make public sector engagement of Bitcoin-related economic activity “confined” as part of a $1.4 billion loan deal with the International Monetary Fund.

The Central American nation will get $1.4 billion from the IMF over the next 40 months after El Salvador agreed to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.

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Ukraine set to legalize crypto by 2025 under strict regulations

December 12, 2024 Coin Telegraph

capital gains tax

Ukraine plans to legalize cryptocurrencies by early 2025, applying standard taxation rules without offering tax incentives.

Ukraine reportedly plans to legalize cryptocurrencies in early 2025, according to Daniil Getmantsev, head of the tax committee of the Verkhovna Rada, but the legislation will not include tax breaks.

The draft bill, currently under review, is expected to be finalized by early 2025 in coordination with the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF). Its primary aim is to regulate digital assets while ensuring fiscal oversight.

Despite earlier speculation around possible tax incentives, standard taxation rules similar to securities trading will be applied under the legalized framework — meaning all profits from crypto transactions will be taxed upon conversion to fiat currencies.

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$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation’s ‘Loose Fiscal Policy’

November 10, 2024 The Daily Hodl

Daily Hodl

The US government has added nearly $2 trillion to the national debt since the start of the year, according to new data from the Treasury Department. The Treasury’s Debt to the Penny database shows that the US national debt has increased by $1.92 trillion since January 2nd, bringing the total debt to more than $35.91 […]

The post $1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation’s ‘Loose Fiscal Policy’ appeared first on The Daily Hodl.

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Iran Declares UN and IMF Ineffective, Advocates for BRICS-Driven World Order

October 25, 2024 Bitcoin.com

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Iran’s president slammed the UN Security Council and International Monetary Fund (IMF) at the BRICS summit, accusing them of losing effectiveness due to Western interference. He called for BRICS nations to reduce reliance on Western financial systems and push for a new global order. The president urged the bloc to strengthen alternative institutions and reshape […]

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Is G20 Losing Relevance? BRICS’ Rise Signals Shift in Global Power

October 23, 2024 Bitcoin.com

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The rapid rise of BRICS is challenging the relevance of the G20 as a global platform, with BRICS nations now surpassing the G7 in economic output. As BRICS gains influence, discussions about reforms to major international organizations, including the IMF and UN, are intensifying. According to an expert, the G20’s future is increasingly uncertain as […]

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Can BRICS Dethrone World Bank and IMF? Why Cuba Is Betting on Its Growing Dominance

October 20, 2024 Bitcoin.com

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BRICS is emerging as a potential alternative to the World Bank and International Monetary Fund (IMF), challenging the dominance of Western-led financial institutions, according to Cuba’s Permanent Representative to the United Nations. With major economies like China and Russia among its members, BRICS offers developing nations more favorable financial terms. Countries such as Cuba and […]

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