{"id":44151,"date":"2021-06-11T09:56:07","date_gmt":"2021-06-11T06:56:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44151"},"modified":"2025-08-31T15:39:00","modified_gmt":"2025-08-31T12:39:00","slug":"imf-sees-risks-in-salvadoran-bitcoin-payments-legalisation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/imf-sees-risks-in-salvadoran-bitcoin-payments-legalisation\/","title":{"rendered":"IMF sees risks in Salvadoran bitcoin payments legalisation"},"content":{"rendered":"<p>El Salvador&#8217;s decision to recognise the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\">as an official means of payment in the country<\/a> could entail a number of risks and regulatory issues. At a press conference, <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2021\/06\/10\/tr061021-transcript-of-imf-press-briefing\">\u0437\u0430\u044f\u0432\u0438\u043b<\/a> <span data-descr=\"IMF\" class=\"old_tooltip\">IMF<\/span> Gerry Rice.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal questions that require careful analysis, so we are closely monitoring the developments and continuing our consultations with the authorities [El Salvador],\u00bb \u2014\u00a0Rice said.<\/p>\n<\/blockquote>\n<p>According to him, crypto assets may pose significant risks, and thus an effective regulatory policy plays a crucial role in dealing with them. The official noted that <span data-descr=\"IMF\" class=\"old_tooltip\">IMF<\/span> \u201cworks closely\u201d with other organisations studying digital currencies.<\/p>\n<p>Rice added that on 10 June IMF staff conducted a virtual meeting with Salvadoran President Nayib Bukele. They discussed a potential lending programme and \u201cthe policy to strengthen economic governance.\u201d<\/p>\n<p>On 9 June 2021, El Salvador\u2019s Legislative Assembly passed a law recognising the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\">as an official means of payment in the country<\/a> on a par with the US dollar.<\/p>\n<p>Bukele instructed the state-owned LaGeo to draw up <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-president-proposes-bitcoin-mining-powered-by-volcanic-energy\">a plan for the creation of enterprises for Bitcoin mining<\/a>. According to the president, the mining hub will be designed around a new 95 MW geothermal well.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Soon, that well is going to look like this\u2026<\/p>\n<p>And half a mile from it, the <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> mining facility.<\/p>\n<p>Designing that as we tweet. <a href=\"https:\/\/t.co\/KXtOZkocrq\">pic.twitter.com\/KXtOZkocrq<\/a><\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1403168649234485252?ref_src=twsrc%5Etfw\">June 11, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, some experts warned that Salvador&#8217;s adoption of Bitcoin could jeopardize the <a href=\"https:\/\/u1f987.com\/en\/news\/experts-weigh-bitcoins-impact-on-el-salvadors-economy-it-cannot-get-worse\">IMF agreement<\/a>.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s decision to recognise the first cryptocurrency as an official means of payment could pose a number of risks and regulatory issues. IMF spokesperson Gerry Rice said.<\/p>\n","protected":false},"author":1,"featured_media":44152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1278,204],"class_list":["post-44151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-el-salvador","tag-imf"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44151"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44151\/revisions"}],"predecessor-version":[{"id":44153,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44151\/revisions\/44153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44152"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}