IMF pressures El Salvador to overhaul Bitcoin regulations – Cointelegraph

The International Monetary Fund (IMF) is urging El Salvador to make significant changes to its regulations regarding Bitcoin. The IMF is pressuring the country to overhaul its current regulations surrounding the cryptocurrency. El Salvador made headlines when it became the first country to adopt Bitcoin as legal tender earlier this year. However, the IMF is concerned about the potential risks and challenges that come with this decision. The organization is calling for more robust regulations to be put in place to ensure the stability of the financial system. El Salvador’s President, Nayib Bukele, has been a vocal supporter of Bitcoin, but now faces pressure to address the IMF’s concerns. It remains to be seen how El Salvador will respond to these calls for regulatory changes in the cryptocurrency space.