menu
techminis

A naukri.com initiative

google-web-stories
Home

>

Phones News

>

El Salvado...
source image

Silicon

6d

read

239

img
dot

Image Credit: Silicon

El Salvador To Sell Or Discontinue Bitcoin Wallet, After IMF Deal

  • El Salvador has agreed to sell or discontinue its national Bitcoin wallet, Chivo, after signing a deal with the International Monetary Fund (IMF).
  • El Salvador became the first country to accept Bitcoin as legal tender in 2021, but the move faced protests and concerns over instability and inflation.
  • The World Bank refused to support El Salvador's decision, citing concerns over transparency and environmental impact.
  • El Salvador's Bitcoin adoption aims to transition the country from a cash economy to a digital economy, benefiting the majority of the population without bank accounts or credit cards.

Read Full Article

like

14 Likes

For uninterrupted reading, download the app