The International Monetary Fund (IMF) urged El Salvador to amend its Bitcoin law starting in 2022 due to the risks associated with using Bitcoin as legal tender, especially its high price volatility

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The International Monetary Fund (IMF) urged El Salvador to amend its Bitcoin law starting in 2022 due to the risks associated with using Bitcoin as legal tender, especially its high price volatility

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12:00am, Saturday, January 1, 2022

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The ousting of Bitcoin from El Salvador has been on the IMF’s radar for a long time. 'There are large risks associated with using Bitcoin as legal tender, especially given the high volatility of its price. We don’t recommend it. In the short-term, the costs and risks largely outweigh the benefits,' it said in a 2022 statement criticizing the country’s economy
Since 2022, the International Monetary Fund has urged El Salvador to amend its Bitcoin law

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