IMF sees legal and economic issues with El Salvador bitcoin move

The International Monetary Fund said on Thursday it has a number of economic and legal concerns regarding the move from El Salvador to make bitcoin a parallel legal tender.

El Salvador has become the first country in the world to adopt bitcoin as legal tender.

IMF will later on Thursday meet with Bukele to discuss the bitcoin law. El Salvador is in discussions with the IMF seeking a near $1 billion program.

El Salvador’s law means bitcoin will have equal footing with the dollar, which became its official currency 20 years ago.

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