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Q4 FUD STORM (Eruptions Market Report 10-4-24)

El Salvador’s Bitcoin Law, enacted in September 2021, marked a pivotal shift for the nation. With President Bukele’s crackdown on corruption and gangs, alongside his push to attract foreign investment, the country has seen significant progress.


However, organizations like the IMF and World Bank were quick to criticize El Salvador’s Bitcoin policy. Although the IMF had shown slight signs of easing its stance, a recent press briefing clarified that the organization remains firmly opposed to Bitcoin.


During a recent press briefing led by IMF communications director Julie Kozack, Bitcoin’s legal tender status in El Salvador was raised. Kozack confirmed that the IMF and El Salvador remain at odds over Bitcoin in terms of funding.



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