IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador

The IMF has issued new requests under its $1.4 billion deal with El Salvador, now wanting to restrict BTC purchases by the public sector.

The International Monetary Fund (IMF) is looking to tighten restrictions on Bitcoin purchases by El Salvador’s public sector as part of an extended $1.4 billion funding arrangement with the country.

On March 3, the IMF issued a new request for an extended arrangement under its fund facility to El Salvador, filing several new documents, including a staff statement update and a statement by the executive director for El Salvador.

The technical memorandum of understanding mentioned a condition of “no voluntary accumulation of BTC by the public sector in El Salvador.”

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