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El Salvador's Bitcoin Bill Raises Issues


11 Jun 2021

#Bitcoin

International Monetary Fund (IMF) spokesman Gerry Rice said the organization is following developments in El Salvador “closely” ahead of a meeting with the nation’s officials on Thursday. The IMF believes El Salvador’s move to adopt bitcoin as legal tender raises various issues, the spokesperson said. Earlier this week the Central American country became the first in the world to recognize the cryptocurrency as legal tender and mandate its acceptance across all businesses.

Rice said on Thursday that adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis so we are following developments closely and will continue our consultation with authorities.

A supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin on Tuesday.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 83.6% 28 $19 095.25 0.49% -4.82% $365 864 647 826 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 56 $1 331.94 0.71% -8.41% $163 184 327 469 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000074 0% 0% $67 959 697 977 USDT 7 days price change
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6 XRP (XRP) XRP XRP predictions 63.2% 72 $0.488936 -0.60% 26.12% $24 372 838 519 XRP 7 days price change
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14 Polygon (MATIC) MATIC Polygon predictions 70% 54 $0.760974 -1.00% -7.31% $6 646 589 172 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 77.2% 42 $0.000011 1.90% -4.05% $6 254 513 839 SHIB 7 days price change

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