Catenaa, Friday, January 31, 2025 – El Salvador’s Congress passed a bill to amend the country’s Bitcoin adoption policy, shifting from mandatory to voluntary acceptance of the cryptocurrency in the private sector.
The move complies with conditions set by the International Monetary Fund (IMF) as part of a $1.4 billion loan agreement.
The bill, approved with 55 votes in favor and two against, was introduced by President Nayib Bukele.
The IMF’s 40-month fund facility, expected to total $3.5 billion, required the government to enhance oversight of digital assets to safeguard financial stability and investor protection.
El Salvador became the first country to adopt Bitcoin as legal tender in 2021. While the government holds over 6,000 BTC, Bukele previously admitted that adoption rates have been lower than anticipated.
