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IMF Warns El Salvador to Consider Risks of Bitcoin as Legal Tender

El Salvador Warned by IMF Over Use of Bitcoin as Legal Tender

The International Monetary Fund (IMF) has recommended that El Salvador stop using Bitcoin as legal tender, pointing to financial and consumer risks associated with the cryptocurrency, soon after the country’s President Nayib Bukele announced plans for the world’s first Bitcoin city, powered by a volcano and financed by cryptocurrency bonds.