IWF asks El Salvador to drop Bitcoin Tender Act, report of the executive directorate criticizes BTC bonds, Chivo Wallet-

The International Monetary Fund (IMF) is very critical of cryptocurrencies and, according to a report on Tuesday, the IMF board member El Salvador "pushed" to stop his Bitcoin tender status. Some members of the IMF board said that the country's decision to use Bitcoin in his financial system could hide risks.

IWF report tries to convince El Salvador to lift Bitcoin's status as a legal means of payment, directors are concerned about Bitcoin bonds and the official supervision of Chivo Wallet

according to A Test report Published by the IMF, a global financial institution that promotes financial stability and economic growth, is the organization of the opinion that El Salvador should end his relationships Bitcoin (BTC) . The report notes that El Salvador is "urged" by the IMF directors to abolish the Bitcoin law as soon as possible.

IMF board members have "asked the authorities to restrict the area of ​​application of the Bitcoin Act by picking up Bitcoin's status as a legal means of payment," said the report on Tuesday. The message follows a blog entry published two weeks ago by IWF-economists: emphasize: "[Cryptocurrencies] could soon be a risk of financial stability, especially in countries with widespread crypto acceptance."

The report of the IMF director also found that some members of the IMF have “concerned concern about the risks in connection with the issue of Bitcoin-supported bonds.” In the first week of January, the Salvadorian government Draft laws to create a legal framework for its upcoming Bitcoin bonds.

el Salvador was stubborn in the integration of Bitcoin ( bitcoin ) in his economy and the Salvadorian president Nayib Bukele A bitcoin-mining operation that is operated with vulkan energy at the end of September. This month bukele explained el salvador about the geotherization To strengthen the country's energy generation.

The President of El Salvador bought Bitcoin on Twitter and admitted to the country's state treasury. The President of El Salvador told the country 410 Bitcoin Bitcoins.

In addition to the statements of the IMF on the Bitcoin Tender Act and Bitcoin-supported bonds, the global financial institution criticized the chivo.

"The directors agreed how important it is to promote financial inclusion and found that digital means of payment-such as the chivo e-wallet-could play this role," concludes the IMF report. "However, they emphasized the need for strict regulation and monitoring of Chivo and Bitcoin's new ecosystem."

What do you think of the IMF's opinion that El Salvador should drop his Bitcoin Tender Act? What do you think about the opinion of the financial institution on Bitcoin-supported bonds and Chivo e-wallet? Share your opinion on this topic in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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