In a controversial move to temper El Salvador's Bitcoin enthusiasm, the International Monetary Fund (IMF) has rolled out fresh terms under a hefty $1.4 billion deal.
The International Monetary Fund (IMF) has imposed fresh terms on a $1.4 billion deal with El Salvador, aiming to curb the country's Bitcoin enthusiasm and introduce stricter economic management.
What Happened: As reported by Cointelegraph, the IMF is setting limits on public sector Bitcoin purchases, effectively prohibiting any further accumulation of the digital currency.
The latest update from the IMF cancels out any public sector Bitcoin buys or issuance of debt linked to the digital coin as part of a move to improve economic stability in the Central American nation by increasing transparency and governance.
The lender also plans to closely monitor any future government transactions involving Bitcoin, and stepping out of line could have serious consequences.
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