The International Monetary Fund (IMF) yesterday made recommendations for El Salvador to narrow the scope of its Bitcoin law and strengthen the regulatory framework and oversight of the Bitcoin ecosystem.
IMF spokesperson Julie Kozack stated during a press conference that the organization also advised El Salvador to limit public sector exposure to Bitcoin.
This is not the first time the IMF has expressed concerns to El Salvador. In August, the organization issued a statement acknowledging the need for further efforts to enhance transparency and mitigate risks related to the country’s use of Bitcoin.
The IMF also noted the need for additional discussions to address these issues. This back-and-forth dialogue between El Salvador and the IMF regarding Bitcoin has been ongoing for years.
