News > IMF urges El Salvador to scale back its Bitcoin push

IMF urges El Salvador to scale back its Bitcoin push

The Hindu | 29/01/2022 10:30 AM | Click to read full article

IMF said January 28 that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency. Bitcoin legal tender and return any of those unused funds to its treasury.

The recommendation was part of the international lender’s report on El Salvador’s economy and went beyond its statement earlier this week urging El Salvador to drop Bitcoin as legal tender.