IMF urges El Salvador to drop Bitcoin as legal tender

Technology
Wednesday, 26 Jan 2022
4:00 PM MYT

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'We accept Bitcoin' is announced at a barber shop in Santa Tecla, El Salvador. The IMF urged the government of El Salvador on to eliminate Bitcoin as legal tender. — AP

SAN SALVADOR: The International Monetary Fund wants El Salvador to drop the highly volatile cryptocurrency Bitcoin as legal tender and strictly regulate the electronic wallet the government has pushed adoption of across the country.

The global lender’s board "urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status,” the IMF said in a statement Tuesday.

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Symbol	Open	High	Low	Last	Chg	%Chg	Vol ('00)
HSI-CWGA	0.110	0.110	0.090	0.095	-0.015	-13.64	2,157,768
HSI-PWFZ	0.200	0.215	0.190	0.205	0.010	5.13	1,618,410
HSI-CWEZ	0.120	0.120	0.105	0.110	-0.020	-15.38	719,103
HSI-CWGB	0.180	0.190	0.175	0.180	-0.020	-10.00	624,804
HSI-PWHC	0.175	0.185	0.165	0.180	0.010	5.88	564,424
MYEG	0.960	0.960	0.935	0.955	-0.010	-1.04	529,024
HSI-CWC6	0.190	0.190	0.145	0.155	-0.035	-18.42	490,026
TANCO	0.955	0.960	0.940	0.960	0.005	0.52	455,982
HSI-CWEY	0.230	0.245	0.220	0.220	-0.020	-8.33	447,970
VELESTO	0.185	0.190	0.180	0.185	0.005	2.78	409,947
KANGER	0.035	0.035	0.030	0.035	0.000	0.00	399,603
YTLPOWR-C77	0.040	0.045	0.040	0.040	0.000	0.00	397,913
YTL-C1F	0.025	0.025	0.025	0.025	-0.005	-16.67	307,849
HSI-PWFF	0.200	0.225	0.185	0.215	0.015	7.50	287,039
SINARAN	0.035	0.035	0.030	0.030	-0.005	-14.29	276,347

IMF urges El Salvador to drop Bitcoin as legal tender