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IMF urged El Salvador to remove bitcoin's legal tender status | Reuters

Posted by Andromedaner Z on January 25, 2022 at 7:45pm in Alternative Media, World Events & News

NEW YORK, Jan 25 (Reuters) - The International Monetary Fund’s board “urged” El Salvador to do away with its move to make bitcoin a legal tender, while calling for strict regulation of the country’s e-wallet.

IMF board members “urged the authorities to narrow the scope of the Bitcoin law by removing bitcoin’s legal tender status,” the IMF said in a statement following a yearly consultation.

Some board members were also concerned about the risks associated with El Salvador’s expected issuance of bitcoin-linked bonds, the IMF said. (Reporting by Rodrigo Campos Editing by Chris Reese)

https://www.reuters.com/article/imf-el-salvador/imf-urged-el-salvador-to-remove-bitcoins-legal-tender-status-idUSL1N2U522P

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Replies

Roaring Lovely January 26, 2022 at 7:57am

Bitcoin (and also all other currencies) is not a ponzi scheme, but it is a bubble. I don't know why people fail to understand this. The inherent benefit of Bitcoin is very small. It just enables you to do online transaction. But what makes it 'of big value' is the mere fact that people are buying it. Pple buy it because they BELEIVE it has value, especially 'ever increasing price'. Once pple cease beleiving in it, it will cease to have any value!
Andromedaner Z January 25, 2022 at 8:03pm

Have you ever read Confession of an Economic Hitman? there is also a documentary with John Perkins
Andromedaner Z January 25, 2022 at 7:45pm

LOL, they must be really pissed off with El Salvador, now that it is breaking free from their ponzi scheme

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