{"id":30460,"date":"2024-10-04T21:30:50","date_gmt":"2024-10-04T18:30:50","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=30460"},"modified":"2024-10-04T16:31:34","modified_gmt":"2024-10-04T13:31:34","slug":"imf-renews-pressure-on-el-salvador-to-scale-back-bitcoin-policies","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/imf-renews-pressure-on-el-salvador-to-scale-back-bitcoin-policies\/","title":{"rendered":"IMF Renews Pressure on El Salvador to Scale Back Bitcoin Policies"},"content":{"rendered":"

On October 3, the IMF<\/strong> advised El Salvador<\/strong> to reduce the acceptance of bitcoin and enhance its system of handling cryptocurrencies. Julie Kozack, the director of IMF communications, contacted to limit the meaning of bitcoin in El Salvador, tighten industry regulation, and discourage government expenditure in bitcoin.<\/p>\n

The IMF started counseling El Salvador to cease using Bitcoin and rely on traditional monetary systems right after the country approved Bitcoin as its official cash last year. Many of these risks were still to show themselves when the fund advised the public about the perils of investing in Bitcoin back in August 2024.<\/p>\n

\"imf\"<\/p>\n

The resistance of the IMF to Bitcoin is well-documented even as Bitcoin and other cryptocurrencies gain acceptance in currencies all around the world at the same time it advocates fiat currencies. Apart from suggesting to Pakistan to implement capital gains tax to the bitcoin trade and energy taxes for the process of crypto mining, the company has promoted several legislative ideas in other nations.<\/p>\n

Simultaneously, the International Monetary Fund (IMF) or Fund is the company advocating CBDCs. Launched in September 2024, the “REDI” road map for central banks to apply CBDCs will help to increase public acceptance of the coin by Although the IMF’s policies contradict distributed digital currencies like bitcoin, they are in line with its general stance to support state-directed financial solutions.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our<\/span><\/i> Telegram,<\/span><\/i><\/a> YouTube<\/span><\/i><\/a>, and<\/span><\/i> Twitter<\/span><\/i><\/a> channels for the latest<\/span><\/i> news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

On October 3, the IMF advised El Salvador to reduce the acceptance of bitcoin and enhance its system of handling cryptocurrencies. Julie Kozack, the director of IMF communications, contacted to limit the meaning of bitcoin in El Salvador, tighten industry regulation, and discourage government expenditure in bitcoin. The IMF started counseling El Salvador to cease<\/p>\n","protected":false},"author":6,"featured_media":30462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[61,1828,1557],"class_list":["post-30460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-bitcoin","tag-el-salvador","tag-imf"],"yoast_head":"\nIMF Renews Pressure on El Salvador to Scale Back Bitcoin Policies - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/imf-renews-pressure-on-el-salvador-to-scale-back-bitcoin-policies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Renews Pressure on El Salvador to Scale Back Bitcoin Policies - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On October 3, the IMF advised El Salvador to reduce the acceptance of bitcoin and enhance its system of handling cryptocurrencies. 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