El Salvador controversial Bitcoin The experiment should be more transparent, although the risks from the move are not yet real, the International Monetary Fund (IMF) said this week.
The organization he said. In a statement on Tuesday, he said “further efforts are needed” to address threats to the small Central American country's crypto policy.
By 2021, the IMF warned El Salvador's move to make bitcoin legal tender raises “several macroeconomic, financial and legal issues.”
Since then, he has only the country's favorite leader, Naib Bukele. It has doubled. On his Bitcoin agenda – and continued to buy the property using the country's treasury. El Salvador now holds $327 million in Bitcoin. basis To the country's public wallet address.
The IMF's statement on Tuesday said: “On Bitcoin, many of the risks have not yet materialized, and there is a common recognition that more efforts are needed to enhance transparency and address potential fiscal and financial stability risks from the Bitcoin project.”
President Bukele Bitcoin has legal tender The Latin American nation back in 2021. He has bought a lot of cryptocurrency since, and despite Disclosure Posted by the government earlier this year, this wallet contained only a “large chunk” of the purchases, Buckley said.
The government It was unclear with journalists regarding the amount of investment.
In a move to make BTC legal tender, the country passed legislation called the BTC Act, forcing businesses to accept the cryptocurrency as payment if they can afford it. In practice, however, businesses have been slow to adopt cryptocurrency.
El Salvador hopes to attract investment:and citizens– Technology-friendly management.
The IMF has long criticized Buckel's bet, but the populist Millennium Leader has always criticized the “global elite” and even Tweeting memes mocking the organization.
And in a softer tone, Buckel told the IMF that the country's adoption of bitcoin would not change the country's macroeconomic situation. The organization and El Salvador have been in talks for years about a loan to improve the country's finances.
A spokesman for El Salvador's government did not immediately respond. DecryptQuestions.
In a statement, the IMF added that the program financed by the talks with El Salvador could strengthen development opportunities in the country – one of the poorest in the Americas.
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