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El Salvador to Accelerate Bitcoin Purchases Despite IMF Deal
In a surprising turn of events, El Salvador’s government has announced plans to accelerate its Bitcoin purchase schedule despite the recent International Monetary Fund (IMF) stipulations forcing a reevaluation of the country’s plan to make Bitcoin a compulsory legal tender.
The decision comes after Nayib Bukele, President of El Salvador, expressed his commitment to pushing forward with the plan, stating that the IMF’s concerns do not change the fundamental principles behind the initiative. The government has agreed to accelerate its purchases to demonstrate its dedication to the project and to mitigate any potential risks associated with the decision.
The IMF had previously expressed reservations about El Salvador’s proposal to make Bitcoin a national currency, citing the lack of regulatory frameworks and potential risks to the country’s financial stability.
Source: cryptoslate.com
