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El Salvador, recognized as the first country to adopt Bitcoin 
$100,777 as legal tender, has introduced new legislation to limit its cryptocurrency efforts. This decision follows recent developments concerning an agreement between the Salvadoran government and the International Monetary Fund (IMF).
Approval of Legislative Changes by El Salvador’s Congress
According to Reuters, the Salvadoran parliament approved a bill on Wednesday aimed at amending Bitcoin legislation to align with the government’s agreement with the IMF. In December, representatives from both El Salvador and the IMF reached a deal worth $1.4 billion, allowing businesses the freedom to choose whether to accept cryptocurrency payments.
Economic Reforms and Risk Mitigation in Bitcoin
El Salvador plans to utilize these funds to support economic reforms. The IMF indicated that the adjustments made under the Extended Fund Facility (EFF) will miti…
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