In a concluding mission statement, the IMF states that the risks have not materialized due to the limited use of bitcoin in El Salvador.
According to a recent mission statement published by the International Monetary Fund , El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of bitcoin. However, the United Nations financial agency warns that if its legal tender status drives growth, it could pose risks to the country’s “financial integrity and stability.
IMF Discusses El Salvador’s Bitcoin Legal Tender Status: Limited Use Averts Risks, but Growth Could Fuel Concernsregarding El Salvador and its economy. The IMF visited San Salvador from Jan. 30 to Feb. 8 for the 2023 Article IV consultation. In the statement, the IMF discusses bitcoin adoption in El Salvador and states that “risks should be addressed.
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