E-Paper
Sign In
Fri, Nov 08, 2024 | Jumada al-Awwal 6, 1446 | DXB
0°C
IMF urges El Salvador to remove Bitcoin as legal tender
Financial institute cites large risks posed by the cryptocurrency.
- By
- Reuters
File photo
The IMF on Tuesday called on El Salvador to change course and stop using Bitcoin as legal tender, citing "large risks" posed by the cryptocurrency.
The bank "urged the authorities to narrow the scope of the Bitcoin law by removing Bitcoin's legal tender status," according to a statement from the International Monetary Fund.
El Salvador in September became the first country in the world to embrace the digital money, making it legal to use in all transactions, alongside the US dollar.
- Americas
Sign Up For Breaking News Alerts
Be in the know. Get the latest breaking news delivered straight to your inbox.
Next Story