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Bukele Is The President of El Salvador, Not Bitcoin

  • As a condition of a new IMF loan package, President Bukele of El Salvador has had to concede three aspects of the Bitcoin Law passed in 2021.
  • The concessions include removing the legal tender mandate requiring businesses to accept Bitcoin and shutting down the state-run wallet and on/off-ramp service, Chivo.
  • However, the state will no longer accept tax payments in bitcoin.
  • President Bukele's priority is to help the Salvadoran people, and if deprioritizing Bitcoin is in their best interest, he will do so.

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