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dollar, the nation’s official currency.

In 2022, the agencywarnedthat El Salvador was incurring "large risks associated with using Bitcoin as legal tender, especially given the high volatility of its price.""The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies," the IMF stated on Wednesday.Salvadorans were offered $30 in bitcoin to sign up on Chivo, but national adoption never really took off.

Earning from AI Driven SaaS Solutions for Digital Transformation ✌️【Part-Time Tasks】✌️Start saving with ₹500 and achieve up to 100% monthly returns. Grow your money smartly!By mid-2022, more than 60% of recipients had yet to make a transaction, according to the National Bureau of Economic Research.

Earning from AI Driven SaaS Solutions for Digital Transformation ✌️【Part-Time Tasks】✌️Start saving with ₹500 and achieve up to 100% monthly returns. Grow your money smartly!A survey from the Central American University found in January that 88% of surveyed Salvadorans hadn't used bitcoin in 2023.The IMF itself will only provide $1.4 billion as part of the deal with El Salvador.

Funds from the World Bank, the Inter-American Development Bank and regional development banks are expected to bring the total amount to $3.5 billion as part of the same program.Tom was sucked into crypto in 2020 and is very much enjoying the ride.

Now a markets reporter for CoinDesk, he previously wrote for DL News about bitcoin ETFs, the Federal Reserve, bitcoin mining and crypto adoption in Latin America.

He has a bachelor's degree in English literature from McGill University and can usually be found in Costa Rica.

He holds BTC, ETH and SOL above CoinDesk's disclosure threshold of $1,000.Earning from AI Driven SaaS Solutions for Digital Transformation Invest Smart, Earn Big: Start with ₹500