El Salvador plans to sell or shut its crypto wallet

On December 1, the gang-busting leader acknowledged in a speech that the introduction of bitcoin had been 'the most unpopular measure that this government has taken.' — Reuters

SAN SALVADOR: El Salvador will privatise or close the cryptocurrency wallet "Chivo" created by President Nayib Bukele when he made bitcoin legal tender in 2021, an official said Thursday.

The announcement came after the Central American nation's government reached a US$1.4bil (RM6.31bil) loan deal with the International Monetary Fund that addressed its controversial embrace of bitcoin.