El Salvador approves new bill to comply with IMF deal
The reform passed with 55 votes, with only two against El Salvador became the first country to accept Bitcoin as legal tender in 2021 In December, El Salvador announced it was changing its Bitcoin law to secure a $1.3bn loan from the IMF El Salvador’s Congress has approved a bill to change its Bitcoin law to comply with a deal it struck with the International Monetary Fund (IMF). On January 29, Reuters reported that the bill was approved minutes after President Nayib Bukele sent it. The reform passed with 55 votes, with only two against. Under El Salvador’s Bitcoin law, it required businesses to accept Bitcoin if they were able to do so. Ruling party lawmaker Elisa Rosales said it was required to ensure Bitcoin’s “permanence as legal tender” while facilitating its “practical implementation.” Legal tender El Salvador became the first country to accept Bitcoin as legal tender in 2021. At the time, it was reported tha...