One of the big news of the crypto-ecosystem in the last hours was the new warning of the International Monetary Fund against El Salvador over its Bitcoin law. The agency called on the Central American country to repeal the law that Bitcoin in legal tender, because of the “risks” it implies. President Nayib B Watch, true to form, responded with a meme.
“I have already seen you, IMF. Very beautiful “, says the beautiful image of a famous scene from The Simpsons, where you can see how Homer wants to attract attention in any way. Apart from the tweet, the president did not make any statement in this regard.
Since the Salvadoran Congress bitcoin wet from June 2021, criticism and praise were shared equally both within and outside the country. The world’s largest financial institutions were not very sympathetic to the initiative, but other similar countries considered following in its footsteps.
The IMF, in particular, has been the office that has questioned the measure the most in recent months. In his last warning, he questioned the potential of the initiative and suggested that it could threaten “financial stability and integrity and consumer protection”, as well as contingent fiscal liabilities.
Last year, El Salvador has asked the IMF for a $ 1.3 trillion loan, which appears to be intrinsically related to the disagreement between the two parties over the role of cryptocurrency in the country. If Bukele continues to defend his position – something he has apparently made clear – it is difficult for the body to finally approve the advance.
Reference-www.eleconomista.com.mx