2024-12-20 20:02 |
El Salvador’s agreement with the IMF could shutter the country’s state-backed Bitcoin wallet Chivo, but not its overall BTC support.
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The IMF has released its concluding statement on El Salvador adopting Bitcoin as legal tender alongside the US dollar. In IMF’s discussion with El Salvador, they covered the regulation and supervision of Bitcoin services providers and e-wallet Chivo, but the latest plans to issue sovereign bonds and use the proceeds to buy Bitcoin and fund […] The post IMF says Bitcoin Chivo Wallet Could “Increase Growth” But Calls for “Narrowing” BTC Law Due to High Volatility first appeared on BitcoinExchangeGuide.
2021-11-23 18:13 | |
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El Salvador has doubled down on its Bitcoin moves despite ongoing pressure from the International Monetary Fund (IMF) regarding the country’s use of the digital asset. On Oct. 4, Juan Carlos Reyes, President of the National Commission on Digital Assets (CNAD), announced that the Central American country’s lawmakers had passed “important amendments to the CNAD […] The post El Salvador doubles down on Bitcoin, defies IMF concerns appeared first on CryptoSlate.
Scott Melker, known as “The Wolf of All Streets,” recently highlighted the effectiveness of dollar-cost averaging (DCA) in Bitcoin investing, even for those who started at the market peak.
Bukele spoke during the commemoration of 203 years of El Salvador independence.
Amidst economic turmoil and stringent regulations, citizens in countries like Argentina and Venezuela have turned to Bitcoin as a lifeline. The International Monetary Fund (IMF) examines how individuals in these nations are leveraging Bitcoin to manage their finances, bypassing capital controls through off-blockchain transactions.
Bitcoin's has been transforming traditional economic paradigms, and this transformation has opened it to both interest and scrutiny. The post Bitcoin has transformed cross-border transactions, IMF study notes appeared first on Crypto Briefing.
The IMF believes that central bank digital currencies (CBDCs) have the potential to eventually supplant cash in the monetary system of the world, according to the watchdog’s managing director Kristalina Georgieva.