El Salvador Changes Bitcoin Policies Over IMF Deal

 El Salvador’s policy on Bitcoin continues to evolve as President Nayib Bukele changes the country’s cryptocurrency law to bring it into line with IMF requirements.

The reform, quickly passed by Congress, clarifies that businesses are not required to accept BTC, while preserving its status as legal tender – part of the $1.4 billion loan agreement with the IMF.

Despite this correction, Salvadorans remain committed to Bitcoin, continuing to accumulate BTC as part of their financial strategy.

Globally, institutions such as the Czech National Bank are considering Bitcoin reserves, while US Senator Cynthia Loomis is pushing for a national Bitcoin reserve plan.

Meanwhile, Bukele mocked former U.S. Senator Bob Menendez, convicted of bribery, for previously accusing El Salvador of using Bitcoin for corruption.

After Bukele secured a second term, the country’s pro-Bitcoin stance has remained firm, continuing to invest in crypto infrastructure and Bitcoin bonds.