IMF sees legal, economic issues with El Salvador bitcoin move – Reuters
- Date: 11-Jun-2021
- Source: Reuters
- Sector:Economy
- Country:Middle East
IMF sees legal, economic issues with El Salvador bitcoin move – Reuters
NEW YORK, June 10 (Reuters) - The International Monetary Fund said on Thursday it has a number of economic and legal concerns regarding the move from El Salvador to make bitcoin a parallel legal tender.
El Salvador has become the first country in the world to adopt bitcoin as legal tender, with President Nayib Bukele touting its use for its potential to help Salvadorans living abroad to send remittances back home.
“Adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis,” said Gerry Rice, an IMF spokesman, during a scheduled press briefing.
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