El Salvador walks back its bitcoin law

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El Salvador walks back its bitcoin law

Four years after becoming the first country to adopt bitcoin as legal tender, El Salvador is taking a step back. The Legislative Assembly has approved changes to the country's Bitcoin Law, effectively removing bitcoin's status as legal currency. On January 29, the assembly—controlled by President Nayib Bukele's New Ideas Party—passed the legislation with a 55–2 vote. Six articles of the Bitcoin Law were modified and three others were repealed. U…

Le Figaro

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The 2021 Bitcoin law reform was adopted on Wednesday by the unicameral parliament, which is composed of 60 members and is largely dominated by the Head of State's “New Ideas” party.

Heise

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El Salvador was the first country in the world to accept Bitcoin as an official means of payment. The IMF demanded that the regulation be withdrawn – and is now getting its way.

The Daily Hodl

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El Salvador Reverses Bitcoin Legal Tender Status Under Pressure From IMF: Report - The Daily Hodl

El Salvador has reportedly removed the legal tender status of Bitcoin (BTC) after less than four years because of pressure from the International Monetary Fund (IMF). According to a new report from BBC, the reform to El Salvador’s Bitcoin Law that the country’s lawmakers approved last week modified six and removed three of the provisions from the 2021 legislation that made it the first country in the world to adopt a cryptocurrency as legal tend…

http://coinprofitnews.com

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El Salvador Reverses Bitcoin Legal Tender Status Under Pressure From IMF: Report

El Salvador has reportedly removed the legal tender status of Bitcoin ( BTC ) after less than four years because of pressure from the International Monetary Fund (IMF). According to a new report from BBC, the reform to El Salvador’s Bitcoin Law that the country’s lawmakers approved last week modifie...

se7en.ws

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More than three years ago, El Salvador became the first country in the world to make Bitcoin an official national currency, along with the US dollar. However, the country's authorities have now decided to abandon the cryptocurrency. DALL-E was created The Salvadoran Congress, dominated by the ruling party, has approved a reform of the Bitcoin Law at the initiative of the government of President Bukele. According to information, the authorities d…